This year, the Monaco Yacht Show will be held from the 27th  to the 30th  of September.

Like each year, the MYS welcomes the world’s most extraordinary superyachts and the most respected shipyards in an exhibition which cannot be missed.

Our team shall be attending the Show from 27-29 September.

Should you have any enquiries, or wish to catch up with us during the show, please contact us  at

We look forward to seeing you there!



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Cayman Islands Discharge Books

A Cayman Islands Discharge Book, (SDB) is a non-compulsory document recording seafarer sea service on a Cayman Islands ship. It is issued to seafarers by the Maritime Authority of the Cayman Islands (MACI). Sea service may also be recorded in separate documents containing a record of seafarers’ employment in accordance with Maritime Labour Convention Standard A2.1/1(e). SDBs issued by other Administrations are also considered valid for this purpose.

SDBs may be issued to the following categories of seafarers:

  1. seafarers currently serving on board Cayman Islands ships in any capacity;
  2. seafarers who have been offered employment on board a Cayman Islands ship in any capacity; and
  3. any other seafarers who wish to seek employment on board a Cayman Islands ship.

Applicants for a SDB should hold a valid seafarer Medical Certificate satisfying Maritime Labour Convention Standard A1.2 or Regulation I/9 of the STCW Convention; and evidence of Basic Training in accordance with Section A-VI/1.2 of the STCW Code.

The holder of a SDB should produce his/her SDB upon the request of: a surveyor of ships appointed under section 419(1) of the Merchant Shipping Law, an Inspector appointed under section 419(6) of the Merchant Shipping Law, the Registrar of Shipping, the Shipping Master, the seafarer’s employer or the master of a Cayman Islands ship on which the seafarer is serving, or about to serve.

If a seafarer holds a SDB issued by another Administration, it should also be produced on request to the persons mentioned above while the seafarer is employed on board a Cayman Islands ship.

Under the Merchant Shipping Law seafarers may be disqualified from serving on a Cayman Islands ship if the seafarer is found to be unfit to discharge their duties by reason of incompetence, misconduct or serious negligence in the discharge of those duties. The disciplinary body may also require the surrender of any document, including a SDB, which has been issued to the seafarer by MACI or the Cayman Islands Shipping Registry. A SDB surrendered will normally be returned to the seafarer at the end of any period of disqualification.

Seafarers who are not employed, or about to be employed, on board a Cayman Islands ship may also apply for a SDB and should include evidence of serving as a seafarer on board a ship of any nationality within the last 5 years with their application.

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Chartering of pleasure yachts in Greece

Law 4256/2014 on “Touristic Yachts and other provisions” abolished the requirement commercial pleasure yachts were previously under in order to hold a valid Greek charter license which was for any charter to start and end in Greece and instead replaced it with the obligation to register with a special online “Registry of Touristic Yachts and Small Vessels”.


For this purpose, Commercial pleasure yachts are defined as pleasure yachts with a capacity up to 49 passengers, disposing of sufficient and adequate habitation spaces for the passengers, for the use of which the parties enter into a full charter contract.


Until the abovementioned Registry becomes operational, the procedure which was applicable prior to the adoption of the abovementioned law applies, and thus yachts either registered with a Greek flag or an EU flag, must apply for a charter license, if they wish to both embark and disembark passengers within Greek waters.


Registration requirements


Law 4256/2014 provides that the following registration requirements be met for chartering a pleasure yacht:

  1. Obtaining of a Greek Tax registration Number through the establishment of a branch office (for non- Greek companies)
  2. Registration in the special Registry of Touristic Yachts and Small Vessels held by the Ministry of Mercantile Marine and Aegean (or for the time being, application for a charter license, as above).


Flag requirements


Pleasure yachts under the flag of a Member State of the European Union (EU) and of the European Economic Area (EEA) may be chartered in the same way as those under the Greek flag, under the registration conditions mentioned above.

For pleasure yachts under the flag of a non-EU or EEA State, additional conditions apply, specifically:

  1.  they must be manufactured mainly of metal or plastic, and
  2. have an overall length of more than 35 meters; and
  3.  have a carrying capacity of more than twelve (12) passengers.


Chartering requirements


Commercial pleasure yachts must fulfill per 3- year periods, starting on the day they are registered in the above Registry, a minimum number of charter days, as follows:

(A) 105 days/3 years for bareboat charters (i.e. without captain and crew)

(B) 75 days/3 years if chartered with captain and crew

(C) 25 days/3 years for those determined as traditional, regardless of whether they are being chartered bareboat or not.


The above requirements are reduced for ships aged over 5, 10, 15 and 20 years.

The commencement and termination of the charter is based on the charter agreement and on the place and time of delivery and re-delivery of the yacht.

The minimum charter duration is eight (8) hours per day and  are allowed up to 2 charter agreements within the same 24-hour period. Charters executed on the same vessel within the same 24-hour period are considered as 1 charter day for the calculation of the minimum charter days.




The Maritime Company for Pleasure Yachts (in Greek: Ναυτιλιακή Εταιρεία Πλοίων Αναψυχής) (hereinafter referred to as “N.E.P.A.”), is a commercial company whose exclusive object is the acquisition, exploitation or management of pleasure yachts under the Greek flag which are qualified as commercial, in accordance with the provisions of law 4256/2014.


The incorporation document (articles of association) of the N.E.P.A. must be in writing, signed by at least two subscribers and submitted to the Registry of Maritime Companies of Pleasure Yachts.


The N.E.P.A. is established for a specific period, which is defined in its articles of association, and which cannot exceed 30 years.

The minimum share capital of a N.E.P.A. is 10 000 euros, which is subscribed by the subscribers and paid in full, at the time of incorporation. The minimum nominal value of each share is 1 euro.


The shares of the N.E.P.A. may be either registered or issued to the bearer.


Only citizens or legal entities of EU or EEA member- states may acquire property rights on shares of a N.E.P.A., however the articles of association may provide that citizens or legal entities from countries which are not members of the EU or EEA, may acquire such rights in shares representing in total less than 50% of the share capital.


The N.E.P.A. is managed and represented by a board of directors, composed of at least 3 members, either natural persons or legal entities, who need not be shareholders in the company. The members of the board of directors are elected by the general meeting of shareholders, with the exception of the first members, stated in the Articles of Association.


The representatives of the NEPA are required to pay social insurance and pension contributions, subject to obtaining an exemption in case they are under another insurance system in another member- state of the EU.


For any further information, please Contact Us.

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Procedures for the Issuance of Belize Endorsement Certificates

IMMARBE has issued a new Circular on the 17th May 2017 in reference to the issuance of new certificates for seafarers namely: Certificate of Receipt of Application, CRA (with new template), Endorsement Certificate (COE), Certificate of Receipt of Application for Tankers (CRAT) (certain ships)/(with new template) and Endorsement Certificate for Special Training (EST) required for certain ships.

New procedures:

The IMMARBE Seafarer Department will be the only office authorized for issuance of the final Belize Certificates as it pertains to COEs and ESTs. Deputy Registrars will continue to issue CRAs and CRATs.

Procedure for the Issuance of CRAs and COEs for Officers working on-board Belize flagged vessels.

The following must be submitted:

  1. Application for the issuance of a COE attesting the recognition of a foreign Certificate of Competence (COC F-008-EAF);
  2. Declaration affirming that the applicant studied and understood the Belize maritime legislation S.I. No. 99 of 1999;
  3. Payment for the COE.
  4. CRA is issued and will be valid for 3 months and only renewable as appropriate, until the final COE can be issued.

Procedure for the Issuance of CRAs and ESTs on Certain Ships on-board Belize flagged vessels.

This procedure covers all types of endorsement for personnel at Management and Operational levels with assigned specific duties and responsibilities on certain ships.

In order to meet the mandatory qualification requirements and to perform their duties on-board, Master, Chief Engineers, Chief mates, Second Engineers and other Deck and Engine Officers on-board Oil Tankers, Chemical Tankers, Liquefied Gas Tankers and Passenger Ships shall hold an EST.

The following must be submitted:

  1. Application for an EST;
  2. Declaration affirming that the applicant studied and understood the Belize maritime legislation S.I. No. 99 of 1999;
  3. Payment for the EST.
  4. Certificate of Application for Certain Ships (CRAT) is issued and will be valid for 3 months and only renewable as appropriate, until the final EST can be issued.

Processes relevant to the SO at IMMARBE head Office only

Once the CRAs and CRATs issued have been processed, the SO will verify the validity of the documents as follows:

  1. The authority issuing the COC must be on the IMO White List as per external document MSC/Circ. 1163/Rev.10 (the SO has been provided with all the addresses of the issuing authorities).
  2. The above authority will be contacted for confirmation that the COC is authentic and valid.
  3. If a COC is fraudulent, the SO must follow instructions WI-SD-04 for Handling of fraudulent COC.


Only relevant to CRATs

When receiving the Certificates of Proof of Qualification the SO will ensure the following:

  1. All Certificates issued by Training Institutions have to be endorsed by a Maritime Administration in the IMO White List prior to be accepted for Endorsement by IMMARBE.
  2. Some Administrations may issue a separate certificate of proficiency or endorsement instead of endorsing a Training Institution Certificate. In these cases only the Certificate of Proficiency or Endorsement issued by the Administration should be provided for Endorsement by IMMARBE.
  3. The date of expiry stated on the EST, shall not go beyond the date of expiry of the Certificate provided.
  4. The SO inputs the relevant information in the database and print a draft of the endorsement to be issued containing the information.

Once all requirements have been fulfilled for the issuance of the COE or EST, the SO inputs the information in the database and prints a draft of the endorsement. A draft COE/EST is then printed and forwarded to the verifying SO for review and approval. The latter must sign the draft COE/EST as proof of review. Any non-conformities in the draft must be brought to the attention of the issuing SO for correction prior to the COE’s/EST’s issuance. The SO will proceed to print the Endorsement Certificate/ Endorsement for Specialized Training Certificate and a certificate number will be assigned, then forward for final approval and signature by the Seafarer Manager or designated person. Once the COE/EST is signed by the latter, it is delivered to the DR or customer responsible for submitting the application. This process and all issued certificates are saved electronically.

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As per Shipping Notice 02/2017 (Rev 1), issued by the Cayman Islands Maritime Authority on the 7th February 2017, the Nairobi International Convention on the Removal of Wrecks, 2007 (the “Convention”) has been extended to the Cayman Islands, as of the 7th of February 2017. The Convention is implemented through the Merchant Shipping (Wreck Removal Convention) Regulations, 2017 (the Regulations) and is applicable to (a) all Cayman Islands ships, (b) ships visiting Cayman Islands waters, and (c) ships which have become a wreck in the Cayman convention area.[1]

In accordance with the Regulations, the owner or master of every ship that falls under any of the three categories mentioned above is under an obligation to report any accident that results in wreck to either the Cayman Islands Government, if the wreck is in the Cayman convention area or the government of any other State or territory in whose convention area the wreck is in. Failure to report is considered an offence under the Regulations.

Moreover, in the case that a wreck occurs in the Cayman convention area, the owner shall be liable for its removal and shall do so if directed by the Cayman Islands Government by serving on the owner a “removal notice”. Failure to comply with the conditions of any removal notice constitutes an offence and the wreck may be removed by the Cayman Islands government in which case, all costs incurred shall be covered by the owner.


The Notice also makes reference to the Insurance Requirements which shall be applicable as of 20 February 2017. Accordingly, owners of all Cayman Islands ships (including yachts) of 300 GT and above are required to maintain insurance or other financial security to cover the liability of the owner for any costs of wreck removal. All such ships will require certification under the Convention regardless of their geographical location. On the other hand, all non-Cayman Islands ships of 300 GT and above to which the Regulations apply must have wreck removal insurance in place which meets the requirements set out in the Convention. These ships must also hold a certificate issued by a State Party to the Convention confirming that the ship has wreck removal insurance that is deemed to meet the Convention requirements.

The procedure to obtain the relevant Certificate attesting the insurance or other financial security is as follows: the Certificate must be issued by the Cayman Islands Shipping Registry upon application from the shipowner of a Cayman Islands ship. Any similar certificates issued from other Governments for Cayman Islands ships will not be acceptable following the implementation of the Convention in the Cayman Islands. However, the already existing certificates issued by other Governments will remain valid until their date of expiry and shall not need to be replaced. Instead, the certificates will be re-issued automatically by MACI upon their expiry.

It is noted that marine Insures and P&I clubs are able to arrange the required insurance and necessary evidence required to enable the Cayman Islands Registry to issue the necessary Certificate. In order to apply for the issuance of the certificate, the applicants should send the original evidence of insurance (or “Blue Card”) issued by the insurer or other financial institution to either the George Town or European Regional Offices of the Cayman Islands Shipping Registry. The “Electronic Blue Cards”, issued directly by the P&I Club, will be accepted as “original”. “Blue Cards” issued by P&I Clubs or insurers which are not members of the “International Group of P&I Clubs” ( may be subject to detailed investigations in order to ensure the provider of financial security is approved by the United Kingdom’s Financial Services Authority (FSA). Lastly, it is noted that the applicant shall also pay for an administration fee for the issuance of the certificate.

[1] Cayman convention area” is defined as “Cayman Islands ports, Cayman Islands waters and the area up to 25 nautical miles seaward from the baselines under the Cayman Islands (Territorial Sea) Order 1989
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Yacht Registration Centre, Y.R.C

15 Agiou Pavlou
Nicosia - 1105

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