Financial security requirements for foreign ships
The attached Memorandum was published in the Manila Times on 1st September and became effective on 16th September. As a consequence, Manning Agents enrolled in the deployment of Filipino crew on foreign ships will need to provide the POEA with copies of the Certificate(s) of Financial Security issued in favour of the Shipowner, by 15th November 2017.
As a consequence, Shipowners employing Filipino crew should anticipate being requested to provide copies of the MLC Certificates evidencing compliance with the Financial Security requirements arising under 2.5.2. (Abandonment) and 4.2.1. (Death and Long Term Disability) for each ship concerned, to their Manning Agents in the Philippines.