Salvage figures showing slight recovery in 2023

The International Salvage Union has published its statistics for last year, showing a slight recovery from the historically low figures of 2022. Liz Booth takes a look

However the ISU also reported that Lloyd's Open Form (LOF) cases dropped to 16 in 2023 from 26 in 2022 and LOF revenue was down at $29 million (2022: $66 million). The better news came from wreck removal income, which rose to $193 million from 30 services compared to $55 million from 32 services in 2022.