Of interest may be the circumstance that in international law it is allowed to arrest not only persons, but also things. Explaining the above, in the middle of the last century, the international community decided to establish the institution of maritime ship arrest. The name of this institution figuratively indicates its essence, since the arrest of a seagoing vessel means nothing more than the seizure of a ship to secure a maritime claim.
At the root of the described institution is the peculiarity of seagoing vessels, which, as a valuable asset, are an attractive object of security for creditors. At the same time, as a rule, ships are in constant motion, often dramatically changing their position. Thus, the absence of the institution in question, with regard to debts – generally speaking here – related to the operation of the ship, would in many cases deprive the creditor of the opportunity to protect his rights.
Indeed, court proceedings aimed at obtaining security for claims often fail to keep up with the dynamics of economic relations, let alone the activities of a ship, for example, delivering goods to ports in different countries. Consequently, having even a relevant court decision would not guarantee success in a situation where the ship had managed to leave the place where the creditor claimed security for its claims on the ship.
Such a ruling would not actually be enforceable due to the lack of a collateral object. Meanwhile, the institution of seizure of a ship allows it to be detained in the port of its current berth and thus secure claims on it. The attractiveness of the legal instrument in question is related to the prevention of its further use, which may expose both the owner of the arrested vessel and the entity actually operating it to serious legal or financial consequences resulting from the failure to execute contracts to be performed during the arrest.
The threat of reputational damage to the named entities as a result of the seizure of the ship is also not insignificant. The above, undoubtedly, can mobilize the debtor to promptly satisfy the creditor’s claims.
