- noun the work of saving a ship or a cargo from being destroyed
- noun goods saved from a wrecked ship, from a fire or from some other accident
- verb to save something from loss
- The remaining value of property after it has been partially damaged. Salvage can also mean the act of saving and preserving such partially damaged property, so as to prevent further loss.
- noun the right of a person who saves a ship from being wrecked or cargo from a ship which has been wrecked in order to receive compensation
- verb to save used, damaged or rejected goods for recycling or further use
Origin & History of “salvage”
The salvage of a ship is etymologically simply a payment made for ‘saving’ it. The word comes via Old French salvage from medieval Latin salvāgium, a derivative of late Latin salvāre ‘save’ (source of English save). The use of English salvage as a verb is a comparatively recent development, dating from the 1880s.