{"id":4524,"date":"2017-08-17T14:35:33","date_gmt":"2017-08-17T14:35:33","guid":{"rendered":"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/?p=4524"},"modified":"2017-08-17T15:42:25","modified_gmt":"2017-08-17T15:42:25","slug":"bahamas-can-regain-shipping-registry-prominence-2-key-measures","status":"publish","type":"post","link":"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/2017\/08\/17\/bahamas-can-regain-shipping-registry-prominence-2-key-measures\/","title":{"rendered":"Bahamas Can Regain Shipping Registry Prominence with Two Key Measures"},"content":{"rendered":"

A maritime attorney with a leading law firm says The Bahamas is only steps away from regaining its position as one of the world\u2019s most respected and sought after shipping registries.<\/strong><\/p>\n

The Bahamas Must Take Two Steps<\/h2>\n
\"\"

Syneisha Bootle, AA., LLB (Hons.), LLM (Dist.) maritime specialist with Callenders & Co., the country\u2019s oldest law firm with a century-old history with shipping, said the country is poised to regain its position as among the world\u2019s fastest growing ship registries, but it must take two steps. (Photo by Bahamas Visual Services.)<\/strong><\/p><\/div>\n

Syneisha Bootle, AA., LLB (Hons.), LLM (Dist.) maritime specialist with Callenders & Co., the country\u2019s oldest law firm with a century-old history with shipping, said the country is poised to regain its position among the world\u2019s fastest growing ship registries, but it must take two steps \u2013 update maritime legislation including a half century old insurance act and enact new legislation with strict enforcement provisions.<\/p>\n

\u201cWe have the talent, we have the resources to put The Bahamas back on the map in maritime law,\u201d said Bootle, who holds an advanced degree in maritime law. \u201cHowever, we must enact legislation enabling us to act on the many conventions and treaties we have signed. Without enforcement legislation, the signatures on the treaties are merely well-intentioned promises.\u201d<\/p>\n

In the 1990s, The Bahamas enjoyed the position of being the fastest growing ship registry in the world and at one time was the third largest, boasting of high standards that would distinguish it from being a flag of convenience.<\/p>\n

There are Increasing Opportunties<\/h2>\n

Bootle is worried that the country has fallen to seventh place in an era when opportunities are greater than they have ever been.<\/p>\n

\u201cIt is gratifying to know that\u00a0companies like\u00a0Chevron, Exxon International, Maersk Line, Cunard Lines, Texaco, Holland-America Cruises, Finnlines, Teekay Shipping, Lauritzen Reefers, Smit International, the East Asiatic Company and MSC are listed on the official Bahamas Maritime Authority register and have chosen to fly the Bahamian flag. However, with the record number of new cruise ships under commission and the growth being experienced by the shipping industry as a whole, we must ask ourselves why we are sliding instead of climbing relative to other registries,\u201d said Bootle.<\/p>\n

The Bahamas is Qualified and Capable<\/h2>\n

\u201cWe have the capacity. We have the infrastructure with a well-equipped and provisioned maritime authority with offices in London, Hong Kong, Greece and New York with an agency office in Tokyo.\u00a0 We have the political stability, the strong and stable banking and financial sector requirements. We simply need to update and modernize our maritime legislation and to take a stricter stand on enforcement which requires legislation so that the treaties we have signed become law.\u201d<\/p>\n

Bootle\u2019s dissertation focused on the modernization of the Marine Insurance Act. The Marine Insurance Act that is more than 50 years old, she noted, and was modeled after the 1908 United Kingdom act. \u201cToday, that Act is in urgent need of updating,\u201d says Bootle. \u201cAlong with the Marine Insurance Act, there are several pieces of legislation that need updating or must be created if we are going to be competitive in the ship registry space.\u201d<\/p>\n

She commends the government for recognizing the value of yacht registration and enacting legislation to introduce the separate registry in 2011.<\/p>\n

Refocus on Commercial Vessels Registry<\/h2>\n

Now, she says, it is time to re-focus on the registry for commercial vessels, re-affirming the high standards it represented when the Bahamas Maritime Authority was launched in 1995.<\/p>\n

According to the government\u2019s reports, The Bahamas has more than some 1500 ships on its registry. Panama, the world\u2019s largest registry, reports 8,200 ships accounting for 23% of all vessels, though its requirements to register including the age of the ship are less stringent than those of The Bahamas.<\/p>\n

\u201cWe never wanted to be a flag of convenience and I am pleased that, in principle, we are maintaining that standard. But without signing onto treaties like the London Convention that sets strict penalties for dumping at sea and without updating our maritime legislation to support the treaties we have signed on to, I fear our reputation will be at stake. We want this country to grow and play a prominent role in an arena that is profitable, productive and invites many opportunities for people and companies that service the ships we register. These are relatively easy fixes and we should act on them without delay.\u201d<\/p>\n

This content was provided by\u00a0Diane Phillips & Associates<\/strong><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A maritime attorney with a leading law firm says The Bahamas is only steps away from regaining its position as one of the world\u2019s most respected and sought after shipping registries. The Bahamas Must Take Two Steps Syneisha Bootle, AA., LLB (Hons.), LLM (Dist.) maritime specialist with Callenders & Co., the country\u2019s oldest law firm […]<\/p>\n","protected":false},"author":16,"featured_media":4525,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-4524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\nBahamas Can Regain Shipping Registry Prominence with Two Key Measures - Buying from the Bahamas<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/2017\/08\/17\/bahamas-can-regain-shipping-registry-prominence-2-key-measures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bahamas Can Regain Shipping Registry Prominence with Two Key Measures - Buying from the Bahamas\" \/>\n<meta property=\"og:description\" content=\"A maritime attorney with a leading law firm says The Bahamas is only steps away from regaining its position as one of the world\u2019s most respected and sought after shipping registries. 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