Blue water vessels, also known as blue water ships or deep-sea vessels, are a category of ships designed and equipped for extended voyages across open oceans or deep waters.
Traversing vast oceans and enduring unpredictable conditions, these seafaring vessels represent the backbone of global commerce, exploration, and defense. However, owners and operators face diverse risks including adverse weather, navigational hazards, mechanical failures, and geopolitical threats.
In an industry where unforeseen events ranging from natural disasters to piracy can disrupt operations and incur substantial losses, Blue Water Vessels Insurance plays a critical role in helping stakeholders mitigate risks and safeguard business interests.
This policy usually includes several types of coverage that can be tailored to the specific needs and risks associated with each vessel, considering factors such as vessel type, size, operating area, cargo carried, and navigational routes.
Marine insurance policies for these vessels usually include:
- Hull and Machinery Insurance
- Cargo Insurance
- Protection and Indemnity (P&I) Insurance
- War Risk Insurance