Top 10 Biggest Marine Salvage Companies

Marine salvage companies specialise in rescuing and repairing ships, cargo and maritime assets that suffered from damage or were stranded or sunk as a result of disasters or accidents.

Marine Salvage Companies offer services like refloating sunken ships, and removal of dangerous materials and wrecks to prevent damage to the marine environment. These companies have special equipment, professional divers and engineering experience to undertake these tasks swiftly and safely, thereby reducing economic loss, safeguarding marine ecosystems and enabling safe navigation.

The marine salvage industry is evolving with the use of new technologies, especially A–driven systems and autonomous rescue ships which reduce human risks while allowing real-time monitoring with precision in recovery efforts.

With increasing volumes of maritime trade, there are many maritime accidents, which raises the demand for efficient marine salvage companies as stricter regulations enter force to protect the oceans, compelling shipowners to get the best marine salvage companies in case their ships suffer accidents at sea.

This is why the marine salvage services market is growing, estimated to reach USD 8.05 billion in 2025 to USD 10.11 billion by 2033, per data provided by Straits Research.

In this article let us discuss the Top 10 Marine Salvage Companies that hold a large chunk of the market.

1. SMIT Salvage

SMIT is a part of the Royal Boskalis, a major global marine service provider, which enables it to undertake multiple and complex projects simultaneously, making it one of the largest marine salvage companies in the world.

The company has 182 employees and its salvage teams can be contacted 24/7 from their 4 emergency response centres in Rotterdam, Houston, Cape Town and Singapore, located in different time zones and along the main shipping routes.

SMIT focuses on sustainable marine emergency response and wreck removal. Whether it is a container ship, oil tanker, bulk carrier or offshore structure, SMIT has the expertise to deal with any kind of vessel, thanks to its legacy in the industry since its establishment in 1842.

2. Resolve Marine

One of the most renowned marine salvage companies, it provides vessel salvage, emergency response, compliance and specialised marine services and has served its clients for the past 40 years.

It has 205 k square feet of warehouse space, facilities and dock front around the world and 7K plus assets in its readiness and response system. The company also has 350 plus global employees and has removed 100 K tonnes of liquid and bulk contaminants over the last 4 years.

The company’s global headquarters are located in Fort Lauderdale, Florida. It also has a presence in Alaska, New Orleans, Tacoma, Alabama, Amsterdam, Athens, London, Shanghai, Singapore and Mumbai.

The company was involved in the salvage of MV Dali Ship which caused the collapse of the Francis Scott Key Bridge in Baltimore after it lost power and hit one of its supports.

Resolve Marine responded within hours of the accident and focussed on crew safety, fire prevention, damage control and vessel stabilisation and refloat along with removal of the bridge parts and cargo.

3. T&T Salvage

A part of the Teichman Group, T&T Salvage meets the emergency response requirements of the shipping and energy sector clients under the highest safety and quality standards.

The marine salvage company’s extensive emergency response network lies throughout the U.S., Singapore, Rotterdam and South America.

The Teichman Group of Companies also have an inventory of firefighting systems, nitrogen and inert gas generators, dewatering pumps, STS lightering systems, anti-pollution systems, ROVs, diving systems etc.

The equipment can be rapidly transported by air, sea or land when required and it is completed with floating heavy-lift and salvage support ships that can meet both regular and emergency response challenges.

4. China Ocean Engineering Solutions Limited (COES)

Shanghai Salvage Company, also known as the China Ocean Engineering Solutions Limited (COES) began the marine salvage business in 1951. It handles recovering marine property, safely removing wrecks, spilt oil recovery and other emergency responses.

Today, it is one of the leading marine salvage companies in China and its ‘Shanghai Salvage’ brand name is recognised worldwide.

It has undertaken some of the most complex salvage projects by employing highly experienced professionals, specialised vessels and equipment.

In the past years, it has salvaged over 2000 ships of all types, removed over 1900 wrecks and cleared more than 29,000 tonnes of spilt oil.

5. The Nippon Salvage Co., Ltd.

Founded in 1934, this company has a long history in the maritime industry. Its head office is in Tokyo, Japan and it has around 145 employees.

It is involved in the marine salvage business, offering various services such as salvaging ships and cargo in distress, towing ships and other floating objects, and removal of vessels and steel structures.

It also provides services including recovering fuel oil, and noxious and hazardous materials from ships in distress, pollution prevention at sea, sale, purchase and charter of vessels, survey and appraisal relating to maritime affairs, demolition of vessels, processing and sale of dismantled materials, contracting and executing underwater or marine construction, surveillance work, electrical work, management and consulting business, design, manufacture and sale of diving apparatus, dispatching of seamen.

6. Multraship Towage & Salvage

This towage and marine salvage company is a part of the Muller Maritime Group. Its core business includes salvage, harbour and terminal towage, sea towage, and offshore and port services.

It has a large fleet of tugs, sheerlegs, multi-purpose vessels, and rescue tenders fitted with modern salvage and fire-fighting equipment.

The company has an extensive network of suppliers which provide additional services and equipment if needed for any salvage operation, like oil spill responders, divers, and HazMat experts.

It also maintains dedicated salvage stations and has an agreement with the Zeeland Safety Region for the provision of fire-fighting tugs along the River Scheldt.

7. Five Oceans Salvage

Five Oceans Salvage undertakes salvage and towage, wreck removal and antipollution services. It is based in Greece and provides services worldwide, making it one of the largest marine salvage companies.

The company has conducted more than 100 salvage operations under the Lloyd’s Open Form Salvage Contract.

It deploys personnel and salvage equipment from Athens and is known for its ability to swiftly mobilise resources anywhere in the world.

It has partnerships across the world which ensures its clients will be supported completely at the time of an emergency.

The company has also done work in regions where it once maintained salvage stations. For instance, it cleaned wrecks at Port Louis, Mauritius when tug Ionian Sea FOS was stationed there, and trained local communities to clean beaches.

8. Svitzer

Established in 1833, this company has nearly two centuries of expertise in providing marine-related services to clients numbering 2000 and more in over 100 ports and over 40 terminals across 37 countries. It has 456 vessels which offer swift and reliable services and 4000 employees in 35-plus nations.

It offers many services like berthing and unberthing, firefighting, maintenance services, waste management, pilotage, oil spill handling, emergency response, personnel recovery and transfers, oil boom deploying, standby, towage and other marine services.

9. United Salvage

This marine salvage company has a long history going back to the pre-World War II era. It specialises in emergency response, wreck removal, salvage, decommissioning and environmental support services across Australia, New Zealand and the South Pacific.

Its operations are based in Port Kembla, New South Whales while strategic equipment is kept in Dampier, Western Australia and in Queensland’s Mackay and Cairns, which ensures swift mobilisation and response to accidents across the South Pacific.

The team is well-trained to respond at short notice to assist ship owners and their crew members in several circumstances. United Salvage also maintains a full suite of oil spill capture and containment equipment.

10. Hong Kong Salvage & Towage Services Limited

This marine salvage company is a joint venture, created as a member of CK Hutchison Holdings and Boluda Towage to conduct salvage and towage operations in Hong Kong and its nearby waters.

The company has 13 tugs and offers services including harbour, offshore towage, salvage, oil spill response etc. It also takes the role of a designer, owner and operator, offering consultation services as well, in case of marine transportation management projects.

It is also the exclusive service provider and operator of the 2 dual-fuel standby vessels for Hong Kong LNG Terminal Limited.

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