Vessel Abandonment

Vessel abandonment occurs when the owner or operator of a ship deliberately gives up ownership or responsibility, often due to financial difficulties, damage, or inability to salvage the vessel. This means they no longer intend to repair, operate, or maintain the ship. Abandonment can lead to legal issues, environmental concerns, and liabilities, especially if the vessel becomes a hazard or causes pollution. It typically involves formal procedures to declare the vessel abandoned and may result in other parties, such as salvors or government authorities, taking control or responsibly disposing of the vessel.