null Comments invited on a proposal to allow parallel registration of vessels on a case-by-case basis

Comments invited on a proposal to allow parallel registration of vessels on a case-by-case basis

Press release 24.09.2020 12.15 fi sv en

Cargo ship in the Baltic Sea (Photo: Alex Marakhovets/Shutterstock)

The Ministry of Transport and Communications invites comments on a draft bill amending the Maritime Act. According to the amendment, parallel ownership registration of a vessel would, in some cases, be allowed in Finland at the same time as the vessel is registered in another state.

It is proposed in the draft sent out for comments that parallel registration would be possible when a foreign vessel is chartered to Finland under the so-called bareboat chartering agreement (without crew). In terms of rights of use, the vessel would be registered in Finland, but the ownership registration would remain in the original state.

The vessel would fly the flag of Finland and apply Finnish legislation with the exception of issues relating to the ownership and mortgage of the vessel. The Transport and Communications Agency would have the responsibility for making a decision on the approval of a vessel’s registration for use.

The parallel registration would allow flexibility in the operations of shipping companies and possibly result in new tonnage under the Finnish flag. This would promote the competitiveness of Finnish shipping companies and create jobs for Finnish seafarers.

What are the next steps?

The deadline for comments on the bill is 16 October 2020.

Organisations and private individuals are invited to comment the bill online at www.lausuntopalvelu.fi or by email at kirjaamo@lvm.fi.

Following the consultation round, Ministry officials will continue the preparations for the Act.

The Government proposal to amend the Maritime Act in terms of parallel registration is to be submitted to Parliament in November 2020. The objective is that the Act would enter into force in spring 2021.

Inquiries:

Tiina Ranne, Senior Ministerial Adviser, tel. +358 295 342 004 (until 30 September 2020)

Sini Wirén, Director of Unit, tel. +358 40 507 0916, Twitter: @WirenSini