Contact your team
360o

Market
update

01-02-2016

Panama Plans Accession to BWM and Hong Kong Conventions

It is reported that the process is expected to take two to three months before the law is enacted in Panama.

Panama has announced that it has begun the process of accession for both the Ballast Water Management (BWM) Convention and Hong Kong Convention, which aims to ensure the safe and environmentally sound recycling of ships, Seatrade Maritime News reports.

It is reported that Ministry of Foreign Relations will submit approval of the two conventions to the Cabinet Council, after which it will be presented to Panama National Assembly for final approval, a process that is expected to take two to three months before the law is enacted.

"In the case of the BWM Convention we are preparing the accession process whenever the possibility it comes into force in November this year, due to its latest ratifications at the IMO and we are starting the process of implementation of internal regulations to comply with the Convention," said Fernando Solorzano, head of Panama Ship Registry.

"With Panama's formal accession to the Convention, once completed all internal processing, this will definitely enter into force internationally after 12 months, likely in 2017, depending on what is determined by the IMO."

Panama is said to have been approached by shipowners from Japan, which account for the largest group of Panamanian ship registry users, who have expressed interest in utilising recycling facilities in Asia, particularly India, where certification controls will need to be carried out in order to be prepared for the entry into force of the Hong Kong Convention.

Solorzano says Panama’s accession of the Hong Kong Convention is said to represent a "big boost" for the convention's proper implementation at international level.

"We prefer to be prepared and believe that this international instrument should be approved by Panama in order for timely adopting the implementing rules and regulations that have to be fulfilled under this Convention," said Solorzano.

On Tuesday, Ship & Bunker reported that the IMO announced that, while now very close, the tonnage criteria for the BWM Convention to enter into force has still not been met.


Latest
news

30-05-2018

What's Next: a glance into the future of shipping

21-09-2017

First Voyage for European LNG Bunker Tanker

Skangas duel fuel LNG carrier Coral Energy (image credit/Skangas) Liquified natural gas (LNG) bunker tanker Coralius has made its first trip loading and delivering LNG to and from Norwegian ports, according to trade press reports. The 5,800 cubic meter capacity tanker, which is owned by Norwegian gas company Skangas, was delivered to the company in June. Skangas also operates LNG carrier Coral Energy. "Skangas off
04-09-2017

OPEC Cutback Extension to be Discussed in November, But Developments Could Render Any Deal Meaningless

Analysts say everything from Saudi exploration to rising tensions with North Korea could radically alter the dynamics of the international market. File Image / Pixabay Ever since the Organization of the Petroleum Exporting Countries (OPEC) extended the duration of its production cuts earlier this year to March of 2018, speculation has been rampant that the meager cutback volume coupled with the large number of members
  
BMS Bunkers

360° Contact 24/7

0o
60o
120o
240o
300o