Vanuatu

Vanuatu, made up of more than eighty inhabited South Pacific islands, is about 2,500 kilometers northeast of Sydney, Australia. The commercial center is the capital city of Port Vila on the island of Efate. Named the New Hebrides by Captain James Cook, the nation became independent in 1980 after 74 years of joint Franco-British rule. There is a unified legal system developing from the former dual French and British systems, and there is a unicameral parliament elected by universal suffrage among all citizens over 18 years of age. The President is the head of state; the Prime Minister is the head of government. Vanuatu is a member of the UN, IMO, ILO, FAO and other international entities. English and French are the official languages, while Bislama and over 200 languages and dialects also spoken.

The economy is based on agriculture, with copra, beef, cocoa, timber and other agricultural products being the chief exports. Fishing and tourism are also important. Major trading partners include Australia, New Zealand, France, and Japan. The monetary unit is the vatu.

The Vanuatu Maritime Act Cap. 131, as amended, and the Maritime Regulations are based on US law, and were chosen because of their widespread familiarity and the fundamental protection afforded to both mortgagees and mortgagors under those rules. The registry is operated by Vanuatu Maritime Services Limited with the head office in Port Vila, Vanuatu, and the day-to-day operations office located in New York. In addition, Deputy Commissioners and Special Agents are empowered to conduct registry business in several major ports. Port Vila, Vanuatu is the home port of registry for all Vanuatu flag ships.

 Vanuatu maintains an excellent safety and port state control record worldwide.

Incentives

·        The registry personnel are available 24 hours a day, 7 days a week, when needed;

·        All details of vessel registration are handled through the central registry office in New York City;

·        The Maritime Act on US maritime law.

·        The preferred ship mortgage sections of the Act have been reviewed and accepted by major law firms and banks worldwide;

·        Vanuatu is a member of IMO and has acceded to all the major conventions, including MARPOL, SOLAS, STCW, Load Line Convention, Collision Prevention Regulations, etc;

·        VMSL takes pride in its fleet safety record and strives to assist its clients in maintaining this record through proper manning and an effective inspection program;

·        Vanuatu registration and annual costs are amongst the most competitive available. In addition, fleet discounts are offered;

·        The Maritime Act has no restrictions on crew nationality, and offers the most flexible crewing requirements, consistent with safety;

·        Vanuatu has a vast network of Special Agent Commissioners and independent inspectors