By Rafferty Baker, CBC News
The City of Vancouver could be on the hook for thousands of dollars in salvage fees if the owners of a submerged sailboat in Vancouver's False Creek can't remove or fix their vessel.
According to an emailed statement from the Vancouver Park Board, the Cheng-Shi has been on the rocks near Charleson Park for a week.
“In this particular case wind was not a factor, but rather poor choice of mooring location,” said the statement. “The vessel is cement with a hole in it and has been submerged since last Friday. At the moment the owners are attempting to have it removed.”
If the owners can't deal with the situation themselves, they'll have to surrender the submerged boat to the City of Vancouver, and park board staff will have to arrange to have it removed.
The City of Vancouver will be forced to cover the cost of salvage.
Continue reading here including comments from a salvage expert who says ferro cement yachts are much more expensive to recover than fibreglass, wood or aluinium vessels.