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Costa Concordia Removal – Salvage Tenders in Hand

Maritime Activity Reports, Inc.

April 3, 2012

Owners considering tenders for flotation, removal of Costa Concordia wreck with hull in one piece

The Company has set up a technical committee with representatives from Costa Crociere, Carnival Corporation & plc, Fincantieri shipyard, RINA (the Italian shipping register) and experts from industry and academia to determine the best plan for removal of the ship, in coordination with the relevant authorities.

Costa Crociere invited the world’s 10 leading salvage companies to tender for the contract to remove the ship in one piece.  While each project proposes its own specific salvage methods and techniques, they all prioritize the need to minimize the environmental impact, protect Giglio’s economy and tourism industry, and guarantee safety.

The operation to remove the wreck will be complex and is expected to take from 10 to 12 months, depending on which plan is chosen. The projects are currently being evaluated and a short list is expected to be chosen soon; the best plan will be selected and announced in early to mid- April.

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