"Maritime Code of the Philippines". The laws governing the relations between and among the parties and interests in maritime commerce and trade to and from the Philippines are dispersed in various codes, laws, decrees, executive and order and treaties. This bill seeks to update and reform the shipping laws of the country and codify the same into one code. It upgrades the laws dealing with registration of ships, maritime liens and ship mortgages, maritime fraud, accident at sea and shipowner's liability. It provides for a separate common carrier provision to apply specifically to ships or vessels transporting passengers and/or goods, domestically or internationally . Likewise, it updates the marine insurance provisions found in the Insurancce Code of 1978 and juxtaposes such provisions alongside other provisions of admiralty and maritime laws. The bill also provides for an alternative dispute settlement in the form of arbitration.