The most expensive ship
The most expensive ship collisions in the history of maritime are remembered not only for the staggering economic costs and financial ruin they caused, but also for the tragic loss of lives of hundreds or even thousands of people. They are measured not just in terms of the value of the ships but also the costs of salvage operations, the clean-up efforts, legal claims, compensation and the resultant environmental damage.
Most Expensive Ship Collisions & Maritime Law Changes
One of the most expensive ship collisions is that of the RMS Titanic. Though the steamship collided with an iceberg and not another ship, the disaster led to tremendous losses.
On April 15, 1912, the Titanic, which was called ‘unsinkable’, struck an iceberg in the North Atlantic Ocean during her maiden voyage from Southampton to New York.
It cost $7.5 million to construct in 1912, which is equivalent to approximately $243 billion today, when adjusted for economic impact and inflation.
More than 1500 people died in
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