The world’s largest flag state could be acting contrary to the wording of the Nairobi International Convention on the Removal of Wrecks (NWRC) by forcing owners to get certification from just three countries — the UK, the Cook Islands or Palau.
Panama has not yet ratified the convention, which enters into force in April, with owners busy arranging the relevant insurance certification this week in the current round of protection-and-indemnity (P&I) insurance renewals.
