With Your vessels under our lay-up management care significant cost savings are achieved. Some of these cost savings are:
Reduction of Operations Costs
Reduction of Fuel, Oil, and Lubricants
Reduction of Insurance Premiums (H&M, P&I)
In general P&I Clubs offer 90% return of calls (premiums) for vessels in lay-up with no crewsigned on and 50% return of calls if Owners have some crew signed on. Vessel will in general be treated as in-port for H&M insurance with between 15 % and 50% return of calls. (Insurance returns subject to Your insurance policy).
Waiver / Reduction of Taxes & Fees from Flag Registry
Many flag states offer Waiver/Reduction of Taxes & Fees for vessels in lay-up: - Waiver of Initial Registration Fees - Waiver of Registration Administrative Fee - Waiver of Mortgage Recordation Fee - Waiver of Amended Minimum Safe Manning Certificate Fee - Waiver of Registration & Lay-up Certification Fees - Waiver of Annual Tonnage Taxes after the first full year of Registration in Lay-up Status - Deferral of Annual Tonnage Tax - Deferral of Annual Marine Investigation and International Participation (MIIPS) Fees - Deferral of Annual Marine Inspection Fee - Deferral of Seafarer Documentation and Certification Fees for Initial Lay-up Crewmembers - Deferral of Operational Exemption, Dispensation and other Approval Fees