The Government of Ukraine has approved compensation guarantees for shipowners in the event of armed aggression

Ships that will go to or from open seaports of Ukraine will receive insurance compensation according to the government’s decision. The Cabinet of Ministers of Ukraine approved the procedure for providing guarantees of compensation for damage caused as a result of war and hostilities to shipowners and charterers.

Government representative Taras Melnychuk reported this. According to the new procedure, shipowners, operators and charterers of marine vessels sailing under the flag of Ukraine or foreign countries will be able to receive compensation for damage caused while the vessels are in the territorial waters of Ukraine while sailing to or from open sea ports of Ukraine.

«This procedure establishes the mechanism for providing guarantees of compensation for damage caused as a result of war and hostilities to shipowners, operators and charterers of marine vessels flying the flag of Ukraine or foreign countries (with the exception of vessels owned by citizens of the Russian Federation and the Republic of Belarus or legal entities registered on their territory, as well as to natural and legal persons who are participants or ultimate beneficiaries of such persons), in case of damage during the stay of vessels in the territorial waters of Ukraine during navigation to or from open sea ports of Ukraine», — stated in the official notification .

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