Damages
Damages refer to the compensation or monetary award that is paid to a party who has suffered loss or harm as a result of a breach of contract or a tortious act. In the maritime context, damages can arise from a variety of incidents such as collisions, groundings, cargo damage, pollution, personal injury or loss of life. The amount of damages awarded will depend on the extent of the loss or harm suffered, and may include compensation for physical damage, economic loss, loss of profits, and other related expenses. Damages can be claimed by shipowners, cargo owners, or other parties who have suffered loss or harm as a result of a maritime incident.
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