International Salvage Union says declining revenues are putting the squeeze on salvors

The salvage industry is having to cope with significantly lower levels of income, according to the latest figures from the International Salvage Union (ISU).

According to the ISU, its membership — which includes all the major salvage companies — earned $482m in 2019.

While the figure is up on the $409m in 2018, salvage income has remained well under $500m for the past four years and is still a long way off the $717m earned in 2015.