After a four-day journey from the Tuscan island of Giglio, where it sank on January 13, 2012, the 114,500-tonne hulk was maneuvered into place and secured at the conclusion of one of the largest and most complex maritime salvages ever attempted. Prime Minister Matteo Renzi flew to Genoa to hail the completion of the operation which restored some pride to Italy after a disaster that was widely interpreted as a national humiliation as well as a human tragedy.
"This isn't a day for showing off or creating a spectacle, but it's a mark of gratitude from the prime minister for getting something done which everyone said would be impossible," Renzi told reporters on the dock, saluting the work of the salvage engineers from Italy and around the world.
"We have had a terrible page to turn, but Italy isn't a country destined for the scrap heap," he said.
In contrast to the night when the Concordia ran aground and capsized during a display sometimes performed by cruise ships known as a "salute", the salvage operation has been a resounding technical success.
After hours of preparation, dockworkers fixed the wreck in place in the industrial port of Voltri, just outside the main harbor in Genoa.
It will be dismantled by a consortium led by Italian engineering group Saipem and Genoa-based San Giorgio del Porto in an operation expected to cost 100 million euros and take up to two years.
The overall salvage effort is expected to cost Carnival Corp, owner of the ship's operator, Costa Cruises and its insurers more than 1.5 billion euros ($2.14 billion).
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
