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Class News No. 46/2016

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22 December 2016

Statutory Alert: Financial security 2014

amendments to the MLC 2006
Applicability: All shipowners and ship managers

The 2014 amendments to the Maritime Labour Convention (MLC) 2006 are due to
come into force on 18 January 2017. The amendments will require the carriage of
certificates, or other documentary evidence, of financial security with respect to
shipowners liability, and repatriation and abandonment.
The International Group of P&I Clubs will provide their members with certificates of
financial security that will be valid from 18 January 2017 to 20 February 2018. The
International Group is advising members who intend to transfer their P&I cover on 20
February 2017 to ensure they have certificates of financial security in place for the
period from 18 January 2017 to 20 February 2017.
Certificates of financial security issued by the International Group will be in the name
of the registered shipowner, which may not be the MLC shipowner or DOC holder.
Lloyds Register (LR) has no objection to the name of the registered owner being on
the certificate. The certificate is clearly issued to the ship, and remains effective as
long as the registered owner does not change. LRs objective (as the inspection
body) is to ensure that seafarers are afforded the required protection.
These certificates are not trading certificates and are not subject to IMO
requirements (originals or certified true copies). The MLC requires only that the
certificate be carried on board and a copy posted. LR would have no objection to
certificates being issued in electronic format, as described by the International
Group.
It should be noted that some flag administrations may accept insurers other than
members of the International Group.

http://info.lr.org/l/12702/2016-12-22/3cylcc

28/12/2016