Singapore has executed its new Wreck Removal Convention (WRC) system for ships registered within the country.
The implementation of the treaty will require all Singapore-registered ships weighing over 300t to carry a WRC certificate and proof of insurance on-board.
Owners of ships calling at ports in states that have already ratified the WRC and mandated the production of an insurance certificate called ‘Blue Card’ as a port entry requirement will also have to carry a WRC State certificate.
The WRC State certificate will allow shipowners to prove that they have adequate and appropriate insurance to cover the costs of wreck removal.
The WRC regulations also require any vessel registered in a state that is not currently part of the convention, but that performs voyages to participating countries, to obtain a certificate from a state party.
Marine insurance provider Skuld notes that Singapore-registered ships in possession of valid WRC State certificates issued by other recognised state parties do not have to apply for WRC State certificates with the Maritime & Port Authority of Singapore (MPA) until the expiry of their existing WRC State documentation.
The WRC was adopted by the International Maritime Organisation (IMO) in May 2007, and aims to provide a strict legal basis for states to remove ship wrecks in their exclusive economic zone (EEZ), as well as ensure the availability of adequate compensation for the costs of wreck removal.