Salvor
A salvor is a person or company that helps to recover a ship, its cargo, or other property from peril at sea. Salvors are typically contracted by the shipowner or insurer to provide assistance in the event of a marine casualty, such as a grounding, collision, or fire. The salvor may provide a range of services, including towing, refloating, patching leaks, and removing cargo. In return for their services, salvors are entitled to a salvage award, which is a percentage of the value of the property saved. The amount of the award is determined by a variety of factors, including the skill and effort of the salvor, the risk involved, and the value of the property saved.
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