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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Ownership

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