The wreckage of the Costa Concordia has been hauled upright, completing a delicate stage in the biggest-ever marine salvage operation.

The “parbuckling” of the 114,000-tonne cruise ship, using cables and steel boxes filled with water, took place last week after months of preparation.

The cost of salvage has spiralled to more than €600 million ($863.5 million), according to reports, with total insurance losses estimated at €820 million ($1.18 billion).

The wreck will be refloated and towed away, but this will not take place until next year.

The ship capsized in January last year after running aground off the Italian island of Giglio, killing 32 people. Two bodies have yet to be recovered.