The costliest shipping accident ever to happen. This is how the sinking of the Costa Concordia was defined during the shareholders' meeting of 26 March by chairman Pier Luigi Foschi, according to the minutes of the meeting consulted by the Radiocor agency. The accident, which took place on 13 January off the coast of Giglio, caused 32 victims. And in terms of direct or indirect costs, not covered by insurance, it will cost the company around 15 million euros. A considerable figure, but still less than the 19 million euros that will weigh on the company's 2012 budget following the Costa Allegra accident, which occurred at the end of February off the coast of the Indian Ocean.
The accident at the Costa Concordia, reads the minutes of the meeting, will be considered probably as the most expensive naval accident ever to occur in the world (between the value of the ship itself, covered by insurers, hull and machinery) and the P&I (Protection & indemnity insurance, ed.) which covers civil and third party liability. Insurers should pay all damages including constructive total loss as the amount of damages exceeds the insured value of the vessel. In the financial year ended November 2011, which does not include the effects of the accident, Costa Cruises recorded a profit pertaining to the group of 431,98 million euros, down by approximately 17% from 504 million in last year.
