The analysis of the losses that are caused due to corrosion is an important input in the economy of Latvia and the European Union. The corrosion of the ship’s structure and equipment accounts for a considerable proportion of the total corrosion losses, thus it is the impetus for further investigation and developments for protection from corrosion, providing the ship building companies with corrosion preventive materials and tools. This paper gives an insight into ship structure and equipment corrosion, and it aims to develop in-depth study of ship components, assemblies and corrosion damage and its coating options.