Section 68
Compensation for vessel’s loss or foundering.
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.
In case of loss or foundering of any vessel, the ship owner shall pay to each seafarer onboard such indemnity against unemployment resulting from such loss or foundering, as may be prescribed.