Class 1 (Chief Engineer)Engineering Management📅 Jan 2026
Exam Question
A VLCC suffered hull damage following a tank explosion and sank after a few days while undergoing salvage operations in the territorial sea of a coastal state. Discuss ship-owner's protections with reference to
(a) marine insurance and
(b) liabilities under international conventions.
Reference Answer
### Introduction The sinking of a Very Large Crude Carrier (VLCC) following a tank explosion within a coastal state's territorial sea represents a catastrophic maritime incident with immense financial and environmental ramifications. The ship-owner, in such a scenario, is protected by a multi-layered framework of marine insurance policies and international conventions designed to manage such risks and liabilities. These protections are crucial for the viability of maritime commerce. ### (a) Ship-owner's Protections via Marine Insurance Marine insurance is the primary financial safeguard for a ship-owner, designed to indemnify them against losses arising from maritime perils. The protections are typically sourced from two main types of insurance cover.
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