Ownership

Ownership in maritime context refers to the legal right of an individual, company or state to possess, control, use, and dispose of a vessel. It is the ultimate right to determine the vessel's course, crew, and cargo. Ownership can be acquired through purchase, inheritance, or construction. The owner of a vessel is responsible for its maintenance, safety, and compliance with international maritime laws and regulations. In case of any damage or loss, the owner is liable for compensation. Ownership can also be shared among multiple parties, which is known as co-ownership. Co-ownership allows for the sharing of costs and responsibilities among the owners.

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Mining: Mining in maritime context refers to the extraction of minerals, ores, and other valuable materials from the seabed. This process involves the use of specialized equipment and techniques to locate and extract resources from the ocean floor. ... Read More >>
Ullage Space: Ullage space refers to the unfilled space in a tank or container that is used to store liquids. In the maritime context, ullage space is particularly important in the storage of fuel and oil on ships. The amount of ullage space in a tank is ... Read More >>
Financial Obligations: Financial obligations refer to the monetary responsibilities that a party has to fulfill in a maritime context. These obligations can arise from various sources such as contracts, loans, insurance policies, and regulations. In the maritime ... Read More >>

Ownership

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