Panama Ship Registry, Singapore
Panama is recognised as an international maritime centre, and its flag currently runs above 72% of all vessels trading in oceans worldwide. The Panama Registry provides a number of benefits to ship-owners who seek to register their vessels under the respective flag, and these are related to ownership, tonnage, pre-registry surveys, technical certificates, competitive rates, dual registry, as well as relevant registration procedures. When it comes to ownership, all nationalities are welcome, and there are no minimum tonnage constraints. In addition, pre-registry surveys are not a prerequisite for vessels constructed less than 20 years ago, and vessels are not required to be re-surveyed. Cost-efficient registration rates are provided for fleets and larger fleets may even receive discounts. The Panama Ship Registry accepts bareboat charters for up to 2 years, and the dual registry system can be used to ship owners who seek reduced expenditure and flexibility.
Bunker Convention Certificate
In order to attain a Panama ship registry, a provisional patent has to be applied for, which can be extended. A permanent or full-term patent can be issued once the owner submits the vessel’s title documents which include relevant certificates and licenses. It must be noted that with effect from 21st November ’08, any vessel with a gross tonnage higher than 1,000 entering or leaving the Singapore port must carry a Bunker Convention Certificate (BCC) on board. This ensures that insurance or other financial securities are in place for possible bunker oil pollution damage. However, any oil tanker with a gross tonnage exceeding 1,000, whether carrying oil in bulk or oil residues onboard, is already covered by the Convention on Civil Liability for Oil Pollution Damage 1992 (CLC 92) and hence isn’t required to carry a BCC to enter or depart Singapore.
Apply to receive a Bunker Convention Certificate
Get this crucial piece of documentation to ensure compliance from MarineOne in Singapore. This certificate is applicable to ships who carry gross tonnage over 1,000 that enter or leave the port of Singapore. The bunker convention certificate attests to your vessel having sufficient insurance or finances to cover any bunker oil pollution damage. This certification is required by:
- Oil tankers operating in completely ‘clean’ condition with no residue aboard
- Those applying for Port Clearance under the Sea Trial Scheme
- Singapore registered ships
- Foreign flagged ships
The only vessels exempt from this certification are those carrying under 1,000 gross tonnage or oil tankers either carrying oil or oil residue as they are covered by the Convention on Civil Liability for Oil Pollution Damage 1992 (CLC92). The ultimate goal of this legislation is to ensure that there is compensation available to those who suffer damage or loss caused by oil carried for fuel by a ship. Ensure you have all the BCC alongside all of the other necessary documentation before you enter the port of Singapore with the help of MarineOne. We are able to advise you on all of the necessary documentation required by your vessel to ensure smooth passage. To learn more about our services call 9616 5042 or get in touch with us using the online enquiry form.