The International Salvage Union held its 72nd AGM in Tokyo jointly hosted by Fukada Salvage and Nippon Salvage. Some 30 ISU full members were represented by 80 delegates. The meeting provides an opportunity for the ISU secretariat and management to report to the membership and also for the members to engage with policy issues and to influence the work of the associations.

At the meeting the ISU committed to continuing to work with its key stakeholders such as the International Union of Marine Insurance; The International Group of P&I Clubs and the International Chamber of Shipping and to reinforce the key message that the salvage industry must be sustainable financially in order that much needed services are available when and where they are required. And that environmental protection is one of the most important benefits delivered by the industry not just for shipowners and insurers but for wider society.

The importance of fairness in the tendering process for major projects like wreck removals was discussed
in the context of ongoing work with the IG to revise the ISU/IG wreck removal tendering code of practice.

SCOPIC issues were addressed including its place in the industry as an important “safety net” but recognising that SCOPIC rates are not the basis for a salvage business.

Working in high-risk areas and war zones was discussed and associated issues like the cost of additional premiums for war risk and salvors’ liability insurance as well as contending with sanctions when considering providing services.
There were no substantive policy shifts as a result of these discussions but hearing from the members enables the ISU leadership to go into its discussions with stakeholders better informed about its members’ views.

A high quality Gala Dinner was held at the Intercontinental hotel and included exchanges of presents, a traditional Sake barrel opening ceremony and toasts.

There was also a golf match held at the prestigious Tateno Classic Golf Club as well as visits and sightseeing in Tokyo including to the Imperial Palace and the Tokyo Skytree.

ISU Secretary General, James Herbert, commented: “This was a hugely successful meeting and associated events. Great credit and thanks must go to our excellent hosts Nippon Salvage and Fukada Salvage for their generosity and their brilliant organisation and the commitment of so much time and effort in planning and delivering our 2026 AGM.”