Registries Speak About Marshall Islands Maritime Amendment Act

Following the Marshall Islands announcement of its Maritime Amendment Act, the OGSR followed up with other registries to see if they had adopted or planned to implement similar legislation.

Allison Williams of the Liberian Registry said the administration was also working with the Marine Finance Committee of the Maritime Law Association of the US "in developing and perfecting its lease finance legilation."

"An amendment of the Liberian Maritime Law to allow banks and finance companies that provide lease financing of registered vessels the same security in collateral enjoyed by lessors of all other equipment is currently before the Liberian legislature," said WIlliams.

Uale Sinapati, Registrar of the Tuvalu Ship Registry, said, "Currently, Tuvalu does not face any problems for mortgage registrations by our ship owners. However, should the need arise, Tuvalu will consider making the required amendments to our Merchant Shipping Act."

If your registry would like to share any comments on the matter, please feel free to in the comments section below.