Monday, 17 December, 2018

Malaysia in deal with U.S. firm to restart MH370 search

POOL New  Reuters POOL New Reuters
Kenny Thornton | 20 October, 2017, 18:06

Chester said the Ocean Infinity search would focus on an area that previously had been identified by experts as the next most likely location to find MH370.

Malaysia said on Tuesday it has received proposals from three companies offering to continue the search for Malaysian Airlines flight MH370, which has been missing since 2014, but no decision has been made yet.

The statement says that Ocean Infinity will look for the lost Boeing 777-200ER in yet unsearched area where it is believed the aircraft could be. But with the plane never found, relatives of the missing have been left to wonder what really happened.

Australia, Malaysia and China called off a A$200 million ($159.16 million), two-year search for the plane in January, amid protests from families of those onboard.

Once the negotiation was completed and the terms and conditions agreed upon with the "Ocean Infinity", the Malaysian Government would seek an agreement from the governments of Australia and China to proceed with the search, he said. "This include an offer by a company known as Ocean Infinity on a No Cure No Fee basis".

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He noted that though the response team has been permitted by the Malaysian government to proceed negotiating with Ocean Infinity, it has yet to arrive into an agreement with the USA firm.

MH370 vanished in March 2014 in the southern Indian Ocean, en route from Kuala Lumpur to Beijing, with 239 people aboard.

Under such a deal, a salvage company will take on the financial risk of a recovery and recoup from the owner a percentage of the cargo's value if it is found, often 80 or 90%.

ABC News in a report today stated that the next-of-kin have been notified that the Malaysian government has granted permission to the MH370 response team to begin negotiating terms with Ocean Infinity. There were 239 passengers and crew aboard.

"The underwater search has eliminated most of the high probability areas yielded by reconstructing the aircraft's flight path and the debris drift studies conducted in the past 12 months have identified the most likely area with increasing precision".

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