New environmental rules for Panamanian ships

The ratification of the 2001 Bunker Convention by Panama will increase insurance costs for ships.

Friday, February 6, 2009

The "International Convention on Civil Liability for Bunker Oil Pollution Damage," means that the owner of the ship is responsible for pollution damages caused by bunker fuel in the ship and for covering the cost of preventative measures.

According to the article on "...ships flying the Panama flag will need to have increased insurance coverage for oil pollution damage."

More on this topic

Panama: New Rules for Maritime Traffic

October 2014

The new traffic separation system which comes into effect on December 1 establishes four instruments in the passage of the canal and coastal protection zones for environmentally sensitive sites.

The Traffic Separation System (TSS) devices consist of three which will be placed in the Pacific, one in the Atlantic and one at the entrance of the canal, and will allow for organisation of vessel traffic in congestion areas as well as providing protection for humpback whales .

Shanghai – Panama Transit Accelerated

April 2009

Evergreen Line shipping company has announced a new transit time of 25 days for their Far East - Panama Service from Shanghai to Colón.

The company shortened the transit time between the Taiwan hub at Kaohsiung to Mexico from 23 to only 16 days, resulting in a transit time of 25 days for the route from Shanghai to the Caribbean hub in Puerto Colón, Panama.

The Maritime Industry Impacted by the Crisis

February 2009

Compared to the 2007 record of 8 billion tons in transports, global maritime commerce fell substantially in 2008, dragged down by the crisis.

A good indication of this is the decrease in the Baltic Dry Index, which is composed of the prices of the maritime transportation of dry cargo.

Panama get maritime navigation control

January 2009

8,000 ships will be identified and tracked remotely via satellite.

Vizada, along with Absolute Maritime Tracking Systems, were selected by the Maritime Authority of Panama to provide long rage identification and tracking (LRIT) for more than 8,000 ships in Panamanian waters, in an effort to comply with new regulations which came into effect on January 1.

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