I just read a post that explains WHY this happened. From this thread, post 17:
' ...the crew was attempting to remove ballast water, a practice required under international maritime rules to prevent marine organisms picked up at one port from being dumped with the ballast in another part of the world. He said alien organisms can cause significant damage in their new habitat, so the water is released on the high seas. Beuerman said too much water was probably discharged when the crew was adjusting the ballast.'
Note: 'Ider Point' should be 'Eider Point'.
looks like it could still be salvaged.. any word about the cars?
Here's a link with some good pictures:
http://www.dec.state.ak.us/spar/perp/response/sum_fy07/060728201/060728201_ph_index.htm
BTW: Does anyone know if Titan Salvage uses LLoyds Open Form? If so, did they require that it be signed for this salvage operation?