Vessels above 500 tons to be insured

Mar 09, 2018 News

The Maritime Administration (MARAD) is advocating for vessels operating on the waterways to be insured.
MARAD is party to a number of International Maritime Organisation (IMO) Conventions that include Safety of Life At Sea (SOLAS).
MARAD’s Director Claudette Rogers told the Department of Public Information (DPI), it is mandatory that vessels of 500 gross tons and above are insured.
“Vessels are going to be in keeping with the classification society that we have on the regularised organisation. Those vessels that are going to be engaged in international trade will be required to have insurance, but we’re looking at other vessels as well,” Rogers explained.
The administration is a regulatory agency within the Ministry of Public Infrastructure and has a mandate that surpasses just being responsible for vessels that traverse the various local rivers. Discussions with stakeholders have already begun to get them involved in the process, the Director explained.
“We’re in discussions with insurance companies going forward and to have them come on board and submit proposals so that we can review and advise accordingly. So, we haven’t yet fixed an implementation date, but it is also a work in progress,” Rogers said.

One of Transport and Harbours Department’s vessels operating on the waterways

In 2017, there were four boat accidents which resulted in five deaths, while nine incidents were recorded, resulting in two deaths. Rogers said though none of those accidents involved larger vessels, it is still critical that they are insured against such unforeseen circumstances.
She stressed that there are numerous rigs; Transports and Harbours Department alone has eight vessels operating on the waterways.
Ensuring that all safety measures are upheld so that passengers and crew members alike can be safe is MARAD’s primary goal.
Guyana is a member of IMO whose motto which is “safe, secure and clean seas” through the implementation of conventions, codes, regulations among others, such as MARAD.
MARAD was established in 2003 in accordance with the 1998 Shipping Act and has three main divisions; Ports and Harbours, Safety Division and Admin and Finance Division.

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