MANILA, Philippines – Savings of at least P30 million per shipping vessel are expected to be made following the launch of a new system by the Maritime Industry Authority (MARINA).
According to MARINA administrator Maximo Mejia, a study conducted by the International Finance Corporation (IFC) of the World Bank showed that the new procedure will save shipping firms up to P30 million per vessel in direct costs and lost revenues by cutting down the number of days that ships await registration.
The new system is expected to shorten the processing of permits to acquire ships and operate them in the Philippines to only nine working days from the current processing time of 52 days.
“We want to make it easy for companies to invest in the domestic shipping industry,” Mejia said.
Mejia said the Enhanced Special Processing Window-Express Lane (E-SPWEL) is open to domestic shipping companies owning ships that meet requirements such as non-modification of the ship's structure, valid statutory certificates in English language issued by a Flag State and MARINA-recognized classification society.
The system will be on pilot run at MARINA’s central office in Manila until July 30.
If successful, Mejia said the program will be rolled out across MARINA’s regional offices.
The IFC is supporting MARINA in its efforts to improve regulations and streamlining its procedures as part of a cooperation agreement between the IFC and the Department of Transportation and Communications (DOTC) to improve the country’s domestic shipping services.