The Panama Maritime Authority (AMP) has established a special registry for laid-up vessels, according to Maritime Global Net.

Under the registry, vessels will not need a full crew or regular inspections. The registry also offers lower fees to the owners.

The special registry will be valid for one-year, and possibly extended to another year.

However, AMP warned that vessels registered under the authority cannot be used for navigation and should comply with safety and pollution prevention requirements.

By staff writer