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The paper presents a new approach for solving a path planning problem for ships in the environment with static and dynamic obstacles. The algorithm utilizes a heuristic method, classified to the group of Swarm Intelligence approaches, called the Ant Colony Optimization. The method is inspired by a collective behaviour of ant colonies. A group of agents - artificial ants searches through the solution space in order to find a safe, optimal trajectory for a ship. The problem is considered as a multi-criteria optimization task. The criteria taken into account during problem solving are: path safety, path length, the International Regulations for Preventing Collisions at Sea (COLREGs) compliance and path smoothness. The paper includes the description of the new multi-criteria ACO-based algorithm along with the presentation and discussion of simulation tests results. [ABSTRACT FROM AUTHOR]