Rotterdam, 8 September 2014
PANAMA FLAG ANNOUNCES ADDITIONAL 35% DISCOUNT NEW REGISTRY THROUGHOUT DECEMBER 31, 2015
VESSEL REGISTRY DISCOUNT UNTIL DECEMBER 31, 2015
ALL NEW BUILT VESSELS
VESSELS 10,000 GT AND OVER
VESSELS UNDER 15 YEARS OF CONSTRUCTION
FIRST: TO GRANT, additional to the discounts referred to in Law No. 57 of August 6, 2008, a thirty-five percent (35%) discount on the registration fee and the annual consular fee for the term of one year to those newly built vessels that register under the Panamanian Merchant Marine in 2015 as established in Article 8 of Law 57 of 6 August 2008
SECOND: GRANT a waiver of twenty five percent (25%) additional the discounts of Law No. 57 of August 6, 2008 in the registration fee and the annual consular fee for the term of one year to all ships enrolling in the Panamanian Merchant Marine in 2015, provided that the ships have a gross tonnage of 10,000 GRT and are less than 15 years old, to be counted from the time it was laid down as established by Article 8 of Law No. S7 6 August 2008.
OTHER DISCOUNTS
ECONOMIC GROUP LOYALTY DISCOUNT
New General Merchant Marine Law No. 57 of August 6 2008 effective as of Feb 7 2009
|
Number of Vessels |
Discount Rate |
Discount on Annual Fees |
Discount on Annual Consular Fees |
Period of Discount |
|
5 to 15 |
20% |
20% |
20% |
YEAR OF REGSITRY |
|
16 to 50 |
35% |
35% |
35% |
YEAR OF REGSITRY |
|
MORE THAN 51 |
60% |
60% |
60% |
YEAR OF REGISTRY |
NEW BUILT VESSEL DISCOUNT
New General Merchant Marine Law No. 57 of August 6 2008 effective as of Feb 7 2009
|
GT Gross Tonnage (ITC69) |
Discount on registration Fee |
Discount on Annual Fees |
Discount on Consular Fees |
|
Less than 30,000 GT |
50% |
30% for 3 years |
50% for 3 years |
|
More than 30,000 GT but less than 100,000 GT |
50% |
40% for 3 years |
50% for 3 years |
|
100,000 GT and more |
50% |
50% for 3 years |
50% for 3 years |
5 YEAR KEEL LAY DATE
New General Merchant Marine Law No. 57 of August 6 2008 effective as of Feb 7 2009
|
GT Gross Tonnage (ITC69) |
Discount on registration Fees |
Discount on Annual Fees |
Discount on Consular Fees |
|
Less than 30,000 |
30% |
15% for 3 years |
15% for 3 years |
|
More than 30,000 GT but less than 100,000 GT |
50% |
20% for 3 years |
20% for 3 years |
|
100,000 GT and more |
50% |
25% for 3 years |
25% for 3 years |
DISCOUNT FOR NO PORTS STATE CONTROL DETENTIONS – IMPROVE STANDARS
Vessel with no PSC detention in 24 months: 15% discount on annual tax and annual consular fee.
Here are some of the advantages offered by the PANAMANIAN REGISTRY:
Ownership: Any person or company, regardless of nationality and place of corporation is eligible to register ships under the Panamanian flag. Furthermore, there is no income or withholding taxes payable when the income is a result of the operation of a vessel engaged in international trade.
Minimum Requirements: There is no minimum tonnage requirement. However, vessels over 20 years old will have to pass a special inspection by an authorized Panamanian inspector, in order to obtain the Permanent Navigation Patent.
Technical Certificates: Ship owners who wish to transfer their ships to the Panamanian flag will not be required to have them re-surveyed if the ships possess valid safety and tonnage certificates at the moment of registration, which eliminates the necessity to have the ship dry docked prior to registration and consequently saves the ship owner considerable expenses. However, upon the registration, a recognized entity (national or international) should issue a new set of certificates on behalf of the Panama Administration.
Quotation
The shipping experts of the Registration Department of Hubel Marine have all the tools and knowledge in order to prepare a tailor-made quotation in which all requirements ,forms and cost are mentioned.
Contact the leading Panama Registration Experts from Europe, Erik A. de Koning or Wouter Sluis @ Telephone +31-10-4587338.
Hubel Marine B.V. 