Cyprus and Panama are now officially contracting states regarding the Nairobi Wreck Removal Convention.
Last week, Ambassador Arsenio Dominguez, Permanent Panama Representative to IMO, met with IMO Secretary-General Sekimizu for depositing the required documents for obliging the Convention.
Additionally, earlier this month, Cyprus ratified the Nairobi International Convention of 2007 regarding the Removal of Wrecks.
The Nairobi International Convention on the Removal of Wrecks is to become effective for the Republic of Cyprus on October 22nd of this year.
The Convention entered force back in April of this year. It centers around placing strict liability on owners for the aspects of finding, marking and subsequently removing wrecks which are determined to pose a hazard and also makes State certification regarding insurance or various others financial security forms like liability, compulsory for vessels sitting at or exceeding the 300-gross-ton mark.
The total 25 of contracting states now account for 58.08% of the merchant shipping tonnage of the world.