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A. Background and Ship Registration I. Law No. 2 of 1980 re-organized the Directorate of Consular and Maritime Affairs (known as SHIP BUREAU) within the Ministry of Finance and Economy. Further, Law Decree No. 7 of 1998 created the Panama Maritime Authority and within its branches, Ship Bureau evolved to be known today as the DIRECTORATE OF MERCHANT MARINE. This entity is responsible for the largest merchant marine registry of vessels in the world, with more than 7,000 vessels carrying the Panamanian flag. The administrator office, controls the fleet by issuing or canceling Patents of Navigation, Radio Licenses, Seamen Certificates of Competency and booklets for seamen. SHIP BUREAU also coordinates with Class Societies for the proper issuance of Safety and Technical Certificates as per the SOLAS and other International Conventions ratified by Panama. Currently, more than 70 Authorized Specialized Merchant Marine Consulates, located in the major ports of the world, offer important services to the system; they may issue certifications, once authorized in each case, for: provisional Patent or Radio License, preliminary title or preliminary mortgages registration or consent of deletion or seafarers documentation). Another key element is that Panama has recognized 25 Class Societies to issue certification of Class and further there is a system in place, to received report of Panama flag Vessels when they call on different Ports. There are more than 182 International Inspectors appointed to carry out Annual Safety Inspection on behalf of Ship Bureau. Finally, Attorney will liaise with Maritime Attorneys from other jurisdiction, providing support on legal and financial matters, which need to be effectively recorded in Panama. II. Vessels registered in Panama can be owned by persons (natural or judicial) from any nationality. Panamanian Corporations, (governed by Law No. 32 of 1927). III. Complying with the ISM Code (International Safety Management Code) effective as of July 1 of 1998 and ISPS Code (International Ship and Port Facility Security Code), in force since July 1, 2004 are requisites for the registration of a vessel under the Panama flag. All applications or filings for the registration of a Vessels or change of the ownership, due to a sale transaction, etc., must show copy of the validated Document of Compliance (DOC) issued on behalf of the Company which operates the vessel, as well as Safety Management Certificate (SMC), Ship Security Plan (SSP), International Ship Security Certificate (ISSC) and Continuous Synopsis Record (CSR). IV. Once the Provisional Patent of Navigation and Radio License are issued, the validity will be of six months for each document. This period will enable the interested party to legalized and sent original documents such as: (1) Builders’ Certificate, if the vessel is new built or Bill of Sale; (2) Original Previous deletion certificate; (3) Original Tonnage Certificate as per the International Convention on Tonnage Measurement of Ships 1969. A special inspection of seaworthiness will need to be obtained if the Vessel is older than 20 years since its keel laying and (4) Full characteristics of the Radio equipment as per SOLAS 74 as amended (with navtex and epirb and two way VHF Radiotelephone Apparatus and Radar Transponder or Inmarsat information). Provided that the above information has been properly fulfill at SHIP BUREAU, by the Resident Agent (authorized Attorney) the Statutory Documentation (Patent and Radio License) valid for four additional years, will be issued. V. If the register Vessel need to be discharge from the Registry, a written request by Resident Agent need to be filled. Final Deletion Certificate will be issued, once full payment of annuities, plus a US$1,000.00 government fees are paid with the information of name of purchaser and reason for transfer. Free of mortgage certification as well as no pending fines need to be clear for SHIP BUREAU to final issue the pertinent Deletion Certificate.
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