REGISTRATION OF FOREIGN SHIPS UNDER BAREBOAT CHARTER IN PANAMA

Any vessel operating pursuant to a bareboat charter-party registered at a foreign register may be registered in the Panama Registry without leaving the foreign register, provided this is permitted under the legislation of the country of registration. In this case, the interested party shall submit a formal application.

REGISTRATION OF PANAMANIAN VESSELS UNDER FOREIGN BAREBOAT CHARTER

Vessels registered in Panama engaged in foreign trade operating pursuant to a bareboat charter party may be temporarily registered in a foreign special bareboat charter register with the prior consent of the Panama Registry, and without cancellation of Panamanian registration.

The application for consent shall include the name of the charterer and the country under which the bareboat charter is registered. The certificate of consent shall be issued upon payment of the fees.

Panamanian vessels temporarily registered under a foreign special bareboat charter register shall continue to be subject to any legal and fiscal obligations in the Republic of Panama and do not have the right to register titles or encumbrances in that foreign register.

The owner shall be obliged to provide any evidence of the vessel’s registration under the foreign special bareboat charter register to the Panama Registry. It shall also give notice of the deletion of the vessel’s registration from the foreign special bareboat charter register.