Investment German-style

German Branch chairman Marc Buchholz delivers his layman’s guide of the country’s world-revered ship financing system.

http://www.ourwordourbond.net/ShippingNetwork/no-1-issue10/index.htm

The Panama Maritime Authority have revoke Resolution Nº 106-26 DGMM

The Panama Maritime Authority (PMA) have issued Resolution No. 106-26-DGMM dated 2 July 2008 which requires additional inspections to be carried out on board Panamanian flagged ships over 20 years of age trading into or within the Paris MOU region. 

Before, in view that the annual reports from the Paris Memorandum of Understanding, which group PSC inspections, was showing repeated detentions to determined vessels registered under the Panamanian administration. Placing the Panamanian Registry in an unfavorable ranking within the Paris MOU, which at the same time increase the factor that determines when the vessels flying the national flag are surveyed.

As a consequence of it, the PMA decided to initiate a program involving vessels of 20 years and more trading in the region of the Paris MOU or calling Ports within the region to be subject , by a recognized organization, to a technical inspection. Such inspection, known as ocassional, must cover all aspects relative to security, pollution prevention, safety and compliance with all national and international regulations applicable to the vessel, in such a way that the recognized organization that carries the inspection, guarantee the the vessel is in compliance with those international regulations. The inspection will have a validity of six month and is the Owner's/Manager's  obligation to request and maintain this ocassional survey valid.   

The scope as follow:

Load Line (Annual Survey)

Cargo Ship Safety Equipment (Annual Survey)

Cargo Ship Safety Radio (Periodical/Renewal survey)

Chemical Code (Annual Survey)

Gas Code (Annual Survey)

IMSB Cargoes (Annual Survey)

Dangerous Goods (Annual Survey)

Marpol I, II & VI (Annual Survey)

MARPOL IV (Renewal Survey)

Crew Accommodation (Initial Survey)

ISM & ISPS Additional Audit

Before surveys can be made concurrent with Annual, Intermediate or renewal and on completion a report shall be issued and forwarded to the PMA and any deficiency to dealt with under the close advise/instruction of the PMA. 

At the end of March 2011, the PMA issued circular MMC-221 which revoke PMA resolution Nº 106-26 DGMM, which mean that the Ocassional Inspection to vessels of 20 years or more due to enter Paris MOU port will not longer be required.

The PMA also have announced that new registration of such vessels will be subject to a technical analysis that will include revision of ship's history of detentions as well as of the ship's performance in other registries.