The huge cost of the Rena containership casualty could leap by at least another $300m if a full wreck removal is required.
The bill for a partial wreck removal has already climbed to $425m, with the warning of a further massive escalation in the cost contained in an application made to a New Zealand local authority.
A Costamare-linked shipowning company, Daina Shipping, along with the Swedish Club as the protection-and-indemnity (P&I) insurer of the 3,032-teu Rena (built 1990), is pursuing a resource-consent application with the Bay of Plenty Regional Council.
The
