The Baltic Ace cargo vessel that sank in the North sea on Wednesday night is insured for between $50 million and $60 million, two sources with direct knowledge of the matter said.

The Baltic Ace went down in stormy weather 65 kilometres (off the Dutch coast. It collided with the Corvus J container ship on Dec. 5, 2012, in one of the busiest shipping lanes in the North Sea.

Boskalis Expects Baltic Ace Salvage Contract The Dutch Department of Public Works intends to award the contract for the salvage of the wreck of the car carrier Baltic Ace to Boskalis and its ...

Boskalis Expects Baltic Ace Salvage Contract The Dutch Department of Public Works intends to award the contract for the salvage of the wreck of the car carrier Baltic Ace to Boskalis and its ...

The 485-foot Baltic Ace collided with the 440-foot container ship Corvus J in darkness near busy shipping lanes about 40 miles off the coast of the southern Netherlands.