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Market
Will the salvage operation of the 'Ultra Galaxy' cargo vessel be successfully completed by October 31, 2024?
2
Resolution / Starting Odds
Yes • 50%
No • 50%
Official reports from the salvage company or South African maritime authorities
Story
South Africa Intensifies Efforts to Contain Oil Spill from Grounded 'Ultra Galaxy' Cargo Vessel
Jul 29, 2024, 04:03 PM
South Africa has intensified efforts to contain an oil spill from the cargo vessel 'Ultra Galaxy,' which ran aground earlier this month due to extreme weather conditions. The ship has since broken apart into four sections, exacerbating the spill. Crews have been dispatched to manage the situation and mitigate environmental damage. Salvors are also on-site to assist with containment efforts.
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Less than 1 week • 25%
1 to 2 weeks • 25%
2 to 4 weeks • 25%
More than 4 weeks • 25%
Successfully refloated, no oil spill • 25%
Successfully refloated, minor oil spill • 25%
Successfully refloated, major oil spill • 25%
Not refloated • 25%
Fully successful • 25%
Partially successful • 25%
Unsuccessful • 25%
Abandoned • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
No oil spill • 25%
Minor oil spill (less than 1000 barrels) • 25%
Moderate oil spill (1000 to 5000 barrels) • 25%
Major oil spill (more than 5000 barrels) • 25%