Pensum is the trusted specialist in vessel registration, whether it be a straightforward yacht or a highly complex ship transaction involving multiple jurisdictions. Because of our extensive expertise in the field, we well understand the operation of maritime administrations and how to liaise with them in upholding an owner’s rights and interests.
We are also able to help owners, captains, attorneys, brokers, managers and agents resolve issues as and when they arise, both with initial ownership structures and with ongoing operation. In addition to the companies we manage or represent, we are able to assist others on a consultancy basis.
Qualifications to own vary from flag to flag. In the Cayman Islands, for example, nationals or bodies corporate from 126 jurisdictions qualify. Because the issues can be complex, we normally consult with clients before they proceed to register.
Vessels are subject to the laws of the flag state except where subject to the laws of a coastal state whilst in that state’s inland waters to the extent that rights under the UN Convention on the Law of the Sea have been asserted by that coastal state. In turn, both flag state and coastal state are subject to international law inherent in any applicable maritime conventions. Issues pertaining to regulation are set out in the related resources below. We can consult on any regulatory issues that may arise.
A yacht that is registered in a US state, such as Delaware, has no protections at all once it operates outside that state’s waters. It has no nationality and none of the rights and protections under international conventions. This makes it vulnerable to boarding, possession and appropriation by coastal state authorities plus myriad other problems. To understand the issues, contact us.