Arison, the voice of Carnival Corp. said the cost of repairing Concordia would be greater than the value of the ship, which will become the property of the underwriters who’ll decide whether to sell or scrap it.

 

As for Concordia itself, Arison said proposals for removing the wreck that estimate a 10- to 12-month process are ‘disappointing.’ Though it’s too early to know for sure, it’s unlikely the ship will be cut up extensively, since that could pose a higher environmental risk.