013/15 Panama Maritime Authority and The Nairobi International convention on the Removal of Wrecks (WRC)

Guidelines for Vessels flying the Panama flag and the issuance of WRC

We are pleased to announce that Panama Maritime Authority (PMA) has issued attached Circular,Merchant Marine Circular MMC-308, informing that PMA will ratify the Nairobi International Convention on the Removal of Wrecks in the near future and giving guidelines to the owners /operations with ships flying the Panama flag until Panama rectifies the Convention.

What is it about?

In simple words the Wrecks Convention provides the legal basis for States to remove, or have removed, shipwrecks that may have certain effects. Owners are required to maintain insurance or other financial security to cover the costs up to an extend which is set out in the Convention and ships are required to carry evidence of this insurance in the form of a certificate issued by a State party to the Convention, confirming that insurance meeting the requirements is in place.

Our Service?

In light of the forthcoming IMO Convention and PMA Circular we are pleased to inform you that owners / operators having vessels’ flying the panama flag may apply through our office for issuance of this Wreck Removal certificate WRC, which will be issued via the UK Registry Administration which is recognised by Panama and in full compliance with the PMA Guidelines.

Our standard fee for WRC is USD 220 excluding the courier expenses (if applicable).

A special discount is applicable for fleet applications for more 10 vessels.

Which ships?

This Convention will entry into force on 14 April 2015 and applies to all ships of 300 gross tons and upwards. Where a ship means a seagoing vessel of any type whatsoever and includes hydrofoil boats, air-cushion vehicles, submersibles, floating craft and floating platforms, except when such platforms are on location involved in the exploration, exploitation or production of seabed mineral resources.

What is required in order a WRC certificate to be issued?

According to the convention all ships are required to be insured or have financial security to cover the liability under the WRC, which requirement for the issuance of a WRC certificate. The most common form of this cover is a “WRC Blue Card” from a P&I Club.
The requirements for the issuance of the WRC certificate are the following:
- Application (Will be completed from our end);
- WRC Blue Card issued from P&I;
- International Tonnage Certificate (applicable only for smaller vessels upon request);

When to apply and validity?

It is recommended to apply for WRC as soon as the WRC Blue Card is available from the P&I club. Due to the applicability of the convention there are hundred of ships that will require being certified according to the convention. Due to workload involved, we strongly recommend to ship-owners / operators to initiate the process by contacting the P&I, ASAP, to receive the WRC Blue cards. WRC issued from the UK flag administration will follow the validity as the WRC Blue card issued from the P&I club.

For Further information or inquiries please send an email here

We look forward to receive your inquiries!

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