Recent Amendments to the Republic of the Marshall Islands Maritime Act
As reported by International Registries, Inc. the following amendments to the Republic of the Marshall Islands (RMI) Maritime Act were passed during the fall session of the Nitijela and entered into effect as of 20 September 2016:
- § 225. New Document – The amendment removes the requirement, upon re-registration, to re-document a vessel in its current name before applying for a name change.
- § 232. Change in Name of Vessel – The amendment removes the requirement to publish a vessel’s name change in at least four issues of a newspaper at the place of documentation.
- § 302A. Registration, Recordation, and Discharge of Financing Charters – The amendment clarifies the calculation of the total amount secured by the financing charter, that a financing charter which contains certain redacted or omitted information is valid, that a demise or bareboat charter agreement may meet the requirements of a financing charter through an amendment or supplement to an otherwise non-compliant charter agreement, and that the discharge of the financing charter, in and of itself, does not affect the registration of the vessel or the rights and obligations under the financing charter.
- § 864. RMI Maritime Administrator to Make Rules and Regulations – The amendment implements amendments to the Maritime Labour Convention, 2006 that will enter into force on 18 January 2017 which address the abandonment of seafarers and require shipowners to carry financial security to cover any such abandonment.