Maritime terminology of the modern Ukrainian literary language nowadays is at the stage of intensive dynamics. This process is caused by development of the world maritime industry. It is accompanied by occurrence of terms – neologisms. This article is of high priority because there is no systemic and well-grounded research of innovations in modern Ukrainian maritime terminology. It is focused on the factors due to which new formations in modern Ukrainian maritime terminology are created; processes of occurrence of innovations at the level of research of general-linguistic and individual author’s neologisms are highlighted. The research describes and considers by examples the innovative processes which cause the occurrence of new abbreviated formations. They help to recreate terminological meaning of complicated maritime names, concepts and expressions to make it clear and precisely. This article also investigates metaphorical innovations which are actively applied in maritime terminology and are the key to understanding of many concepts. Special attention is paid to innovations which have arisen due to borrowings as a consequence of contacts between nations or indirectly through other languages. Active process of innovations is also promoted by the terms – word-combinations which reflect the meaning of new concepts of maritime industry. They are formed as a result of several words reflecting a certain terminological concept combination. Innovations in the modern Ukrainian maritime terminology promote to development of the modern Ukrainian literary language proving its mobility and consistency.