Phil Reed
Owner/Managing Director
Mr. Reed is a 1984 graduate of the United States Merchant Marine Academy. He has BS degrees in Marine Engineering and Marine Transportation and a MS degree in Ocean Engineering. Mr. Reed was elected to the Lloyd’s Panel of Special Casualty Representatives in February 2013. Only a small number of SCR’s on the panel today can claim to have as much actual salvage and wreck removal experience as Mr. Reed.
Mr. Reed worked with Titan Salvage for over 20 years as a Naval Architect, Salvage Engineer, Salvage Master, Project Manager, Director of Engineering and ultimately as General Manager. He was involved in all aspects of evaluating, planning, bidding, presenting, contracting, managing, executing and arbitrating major world-wide salvage and wreck removal projects. Mr. Reed personally authored or contributed to many of Titan’s major wreck removal proposals from 1998 to 2012 including the successful bid for the M/V COSTA CONCORDIA. While at Titan Salvage he participated in some of the salvage industry’s most successful projects and suffered through its single greatest financial loss.
Mr. Reed has worked closely with salvage teams and ship’s crew, vessel and cargo owners, underwriters and P&I clubs, surveyors, solicitors, regulatory agencies and class societies. Mr. Reed is familiar with salvage law and salvage contracts including Lloyd’s Open Form, the various BIMCO forms and commercial contracts with caps, bonuses and penalties. He has participated in numerous contract negotiations as well as arbitrations in both London and New York. Mr. Reed has been involved with the hiring of salvage team personnel and setting policies for their pay, their training and their travel. He has overseen salvage equipment depots including the maintenance and repair of existing portable salvage equipment, the purchase of new equipment and the development of new proprietary technology.
Mr. Reed left Titan Salvage in December 2012 and started Reed Maritime LLC. Since then various international Contractors have instructed Mr. Reed as Salvage Consultant including roles as Salvage Master and/or Naval Architect. Various Owner’s and/or their P&I Clubs and Underwriters have instructed Mr. Reed as Company Representative. Mr. Reed has prepared Invitations to Tender (ITT), evaluated Contractor proposals, assisted in Contractor selection and provided oversight of the Contractor’s execution of the project. Mr. Reed has been instructed on several successful projects as a facilitator for the risk-based contracting process using the xpoSure© software.