February 2013

Latin American Firms Focus on Asia

Latin American shipping firms are focusing on Asia as a source of expansion and growth.

The following article was recently published in the February 2013 issue of Seatrade.

Eyeing Asia for continued growth

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MLC Will Reshape Definition of Seafarer

The upcoming Maritime Labor Convention is causing the industry to consider questions of who are considered seafarers, particularly in the context of service workers employed aboard passenger vessels and cruiseships.

Flag states and seafarers unions will have to reach agreements regarding who should be considered a seafarer.

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Ireland Offers Tax Incentives to Section 110 Companies

Ireland has established tax incentives for "Section 110" companies that wish to conduct business within Ireland without establishing residency there.

David Osler of Lloyd's List explains:

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Maltese Registration Consultant Thinks Flag Could Become Number One

While the Maltese registry enters 2013 with continued solidity, GM International Services Chairman John Gauci Maistre thinks it has the potential to become the largest in the world.

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Maltese Register Resilient

The Maltese register continues to be the largest ship register in Europe in 2013 despite obstacles faced the past year.

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India to Require Vessels to Install Anti-Piracy System

The Indian Ministry of Shipping has issued a directive that all nationally-flagged vessels install an anti-piracy system by June 30th 2013 or its next annual ISPS audit, whichever takes place latest.

The circular states:

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Romanian International Flag Administration Launches New Website

The Romanian International Flag Administration (RIFA) is now open for operation, with a live website reporting that four shipowners have already signed with the registry.

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US Solicits Comments on Reflagging Legislation

The US Environmental Protection Agency has developed draft legislation on how owners can determine the presence of Polychlorinated Biphenyls (PCBs) at regulated concentrations if they are interested in flagging out their vessels.

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Isle of Man Registry Surpasses 15 Million GT

The Isle of Man fleet recently crossed the 15 million GT mark when it signed 184,000 GT Berge Neblina last month.

The registration of the Chinese vessel took place early January 4, 2013.

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Croatia Entry into EU Allows for VAT Accession

Croatia's entry into the European Union this year will allow yacht owners registered in the country to qualify for EU VAT rates.

Darryl Sharman of Sarnia Yachts reports:

In July 2013 Croatia will accede to full EU membership.

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