The Costa Concordia Disaster: A Modern Maritime Tragedy Current Estimated Value: $500 million to $1 billion*
Year Found: 2012
Year Disappeared: 2012
When discussing maritime disasters, the Titanic often comes to mind, but the 2012 Costa Concordia cruise ship accident is a more recent and tragic example. The ship veered off course and collided with a submerged rock structure in the Mediterranean Sea, resulting in the loss of thirty-four lives.
The Costa Concordia: A Complex Maritime Disaster Source: @CNN | CNN.com
The Costa Concordia disaster not only resulted in a tragic loss of life but also incurred significant financial repercussions. The $513 million in insurance on the ship fell short of covering the estimated $2 billion in total damage. Additionally, between $500 million and $1 billion worth of merchandise was lost in the incident.
This tragedy led to numerous lawsuits and criminal investigations, which uncovered a surprising twist: although ship officials were unaware, the Costa Concordia was carrying a substantial amount of cocaine linked to the Italian Mafia at the time of its sinking.
