Yesterday, 29th March 2016, Five Oceans Salvage signed a new Lloyd’s Open Form contract to rescue the 1997, grt 17,879 bulk carrier, TIVOLI, IMO 9146807.

The TIVOLI is carrying a cargo of logs, and went aground 07-50N 117-13.3E (South Philippines) following engine failure whilst on a voyage from Papa New Guinea to Vietnam.

Five Oceans have employed a Malayan Salvage tug, the TRABAJADOR-1, in Subic, to assist. She is anticipated to be with the TIVOLI tomorrow, 31st March.

A Salvage Master and support team are also on their way to the site from Greece. Despite reports to the contrary, the vessel is not believed to have been refloated yet.

It is expected that General Average will be declared by Owners once the vessel is refloated and prior to continuing her voyage, and guarantees will be required by the Lloyd’s Salvage Branch.

Our local office is investigating. If you have cargo on board the TIVOLI, W.E.Cox are able to assist you with provision of Salvage and General Average security, and negotiations, as required. We are also able to provide a full Recovery action service.