Raise It or Raze It?: How Will the Stranded Italian Cruise Ship Be Salvaged?

At more than twice the size of the Titanic, the Costa Concordia was the largest passenger vessel ever to sink when it capsized off Italy's northwest coast on January 13. So far, Italian authorities say of the more than 4,200 passengers and crew on board, at least 18 are confirmed dead and 14 unaccounted for , and the insurance costs may reach $1 billion, according to Moody's Investors Service. Now salvage companies around the world are gearing up for the mammoth task of recovering the ship, a challenge made all the more complicated by its precarious spot. "The wreck's on the edge of deep water, and can drop another 200 feet [60 meters] or more," says Mike Lacey, secretary general of the International Salvage Union. [More]

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