ABSTRACT

The Maritime Code changes the principles of limitation of the shipowner’s liability from ship’s value system to tonnage system. The relevant provisions are in Chapter 11, ‘Limitation of Liability for Maritime Claims’ (Articles 204-15) in the Maritime Code, which adopted the principles and the substantial Articles of the 1976 International Convention on Limitation of Liability for Maritime Claims (the 1976 Convention). However, some differences exist and will be discussed in the following parts.