Cost Savings Print
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
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