In addition to the previous measures implemented by the Merchant Shipping Directorate (Directorate), which were introduced to combat the negative effects that the outbreak of the Coronavirus (COVID-19) pandemic has already had on the shipping industry, the directorate has issued further measures implemented as from 1st of April 2020.
The Directorate has recognised that the spread of COVID-19 is wreaking havoc globally subsequently causing financial problems to industry players who find themselves facing serious cash flow problems. In lieu of the above, by means of Merchant Shipping Notice 160, the Directorate has decided to defer the payment dates of registration fees and annual tonnage tax of merchant ships falling due on or after 1st April 2020 by a period of three months from the respective anniversary.
Nonetheless, the Directorate has stipulated that requests to issue renewal Certificates of Registry are still to be made to the registrar as per usual, accompanied by a request for the aforementioned deferral of payment of the relevant registration fees and annual tonnage tax.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.