What is covered under hull coverage in ocean marine insurance?

Hull coverage in ocean marine insurance specifically addresses the physical damage to the ship itself. This type of insurance provides protection against risks such as collisions, grounding, and other maritime perils that could lead to damage to the vessel's structure and equipment. By covering the ship itself, hull coverage ensures that shipowners are financially protected against significant repair costs or total loss due to various marine incidents.

The other options focus on different aspects of marine operations. Cargo shipments refer to the goods transported by the ship, which are typically covered under separate cargo insurance policies. Port fees and tariffs relate to administrative and regulatory costs associated with shipping but are not part of hull coverage. Global shipping regulations are guidelines and requirements that vessels must adhere to, but they do not fall under the scope of hull insurance. Therefore, hull coverage is specifically tailored to protect the vessel rather than its cargo or regulatory concerns.