Encyclopedia
Constructively total loss vessel
A constructively lost vessel — a damaged vessel is considered to be constructively lost if: the vessel cannot be restored neither in the place where it is located, nor in any other place to which the vessel can be delivered; repairs to the vessel are economically unfeasible (ceased to be effective as of 2019-11-26)1.
Russian Federation Maritime Commerce Code. 1999, edition of 2001-05-26, article 49, ceased to be effective as of 2019-11-26. ↩