The Panama Maritime Authority (PMA), through its General Directorate of Merchant Marine, has issued Merchant Marine Circular MMC-202. This document provides critical updates for shipowners, operators, and other stakeholders of Panamanian-flagged vessels regarding approved Protection and Indemnity (P&I) Clubs and insurance providers authorized to issue Blue Cards or Financial Securities under various international maritime conventions.
Key Highlights:
- Purpose:
MMC-202 replaces the previous MMC-352 and outlines the list of insurance companies and financial security providers authorized to issue certificates under conventions such as:- The Civil Liability Convention (CLC) 1992
- The Bunker Convention (BCC) 2001
- The Athens Convention (PAL) 2002
- The Nairobi Wreck Removal Convention (WRC) 2007
- The Maritime Labour Convention (MLC) 2006
- Blue Card Requirements:
Financial securities issued must adhere to traceability and conformity guidelines with ship registry certificates. Insurers must notify the PMA before canceling or terminating financial securities. - Evaluation of New Providers:
Insurance providers not currently on the approved list may apply for evaluation, subject to a $500 fee. Approvals are valid for five years and require financial and operational documentation. - Certificates Under MLC 2006:
Certificates must include comprehensive ship details, validity periods, and insurer information, meeting the requirements of Standards A2.5.2 (repatriation) and A4.2.1 (shipowner liability). - Mandatory Notifications:
Changes in a ship’s details or insurer information necessitate reissuance of financial securities. Termination notices must follow a 3-month lead time for most conventions and 30 days for MLC 2006.
Approved P&I Clubs and insurance providers are listed in the circular, with details on scope and expiration dates. For additional information or to apply, contact liabilities@segumar.com or mlc@segumar.com.
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