A container ship at sea with the words "WRECKSTAGE 2024" superimposed on the image

Updated version of WRECKSTAGE agreement released

Published: 04 June 2024

The updated 2024 version of BIMCO’s widely used wreck removal and marine services agreement, WRECKSTAGE, is now available for use in SmartCon.

BIMCO’s standard wreck removal agreements — WRECKSTAGE and WRECKHIRE— were first published in 1993, with revisions in 1999 when WRECKFIXED was added. All three forms were further revised in 2010 to align with modern commercial practices and ensure fairness.

Since then, significant casualties, advanced technology, and the Nairobi Convention have reshaped wreck removal practices. The adoption of Quantitative Risk Assessment (QRA) in the contracting process and discussions between the International Salvage Union (ISU) and the International Group of P&I Clubs (IG) on updating the code of practice led to a major revision of WRECKSTAGE and updates to all three agreements. QRA helps manage risks in engineering projects, affecting risk allocation and pricing.

The updated WRECKSTAGE is the result of a collaborative effort by the International Salvage Union (ISU), members of the International Group of P&I Clubs, and legal experts. Revisions of WRECKHIRE and WRECKFIXED are due in 2025.


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Grant Hunter


Grant Hunter

Director of Standards, Innovation and Research

London, United Kingdom