Section 204
Maintenance of compulsory insurance or other financial security.
The Merchant Shipping Act, 2025
About this Act
An Act to consolidate and amend the law relating to merchant shipping to ensure compliance with India's obligation under the maritime treaties and international instruments to which India is a party and also to ensure the development of Indian shipping and efficient maintenance of Indian mercantile marine in a manner best suited to serve the national interest and for matters connected therewith or incidental thereto.
Every registered owner of a ship having gross tonnage of more than one thousand tons shall, for the purpose of his liability for pollution damage under this Chapter, maintain compulsory insurance coverage or such other financial security, subject to such limits as may be specified under the Limitation of Liability for Maritime Claims Convention.