Tiếng Việt
Marine Hull Insurance
Protects your vessel—hull, machinery, and equipment—against major sea perils and repair costs, so you can keep sailing and earning with confidence.
Target clients
- Shipowners and operators of bulk carriers, tankers, container and general cargo ships
- Offshore/support vessels, tugs & barges
- Coastal/inland fleets, ferries, fishing boats, workboats, and yachts
Core protections
- Hull & Machinery (H&M): accidental physical loss or damage from perils of the sea, grounding, collision, fire/explosion, heavy weather, contact with fixed/floating objects.
- Collision liability (RDC): liability to other vessels from a collision (often 3/4 or 4/4ths, per wording).
- General Average & Salvage: your vessel’s share plus related expenses.
- Sue & Labour: reasonable costs to minimize or prevent a loss (as allowed).
Add-on protections
- War & Strikes (War/WSRCC) Hull, piracy extensions.
- Loss of Hire (LOH): daily indemnity for lost income while under repair.
- Increased Value (IV) / Hull Interest and Freight Interest.
- Machinery breakdown buy-backs (where available), deductible buy-down.
- Protection & Indemnity (P&I) for broader third-party liabilities (placed separately with a P&I Club).
- Mortgagee/lender clauses, trading area extensions, special gear/equipment.
Results you can expect
- Funded repairs and faster return to service after an incident.
- Stable cash flow and protection of working capital.
- Compliance with lender/charterparty requirements.
- Stronger negotiating position with ports, charterers, and insurers.
Vietnam Legal Requirements
Hull insurance itself is not generally compulsory. However, certain liability covers (e.g., pollution or passenger liability) may be required depending on vessel type, flag/port rules, and conventions. Lenders and charterers typically require H&M and P&I as standard.
