commercial salvage

Commercial salvage refers to the process of recovering valuable property or goods from damaged, stranded, or abandoned ships, aircraft, or other transportation assets, often involving legal and insurance agreements. It involves assessing, securing, and recovering assets that may have commercial value, with salvors (specialized recovery companies) paid for their services either through salvage awards or contractual agreements. The goal is to maximize recovery while minimizing further damage, following established maritime laws and standards. It plays a crucial role in maritime commerce, environmental protection, and insurance claims.