Decree No. 161/2013/ND-CP dated November 12, 2013 of the Government on registration, purchase, sale and building of seagoing ships

SHIP REGISTRATION NOT MORE THAN 15 YEARS

On November 12, 2013, the Government issued the Decree No. 161/2013/ND-CP of November 12, 2013, on registration, purchase, sale and building of seagoing ships. Within that, for first-time registration in Vietnam, used ships must be not more than 10 years, for passenger ships; and not more than 15 years, for ships of other types. The limits on the ages of ships specified in Clause 1 of this Article do not apply to ships under the ownership of foreign individuals or organizations and coercively auctioned in Vietnam under decisions of competent agencies.

Besides, Before being registered for flying foreign state flags, ships flying the Vietnamese flag and chartered or charter-purchased by foreign organizations or individuals must be subject to deregistration of Vietnamese ships in accordance with laws.

Also in accordance with this Decree, forms of ship purchase and sale by state enterprises or enterprises with state capital contributions must be in consistent form. In particular, the ship purchase and sale between an enterprise and a foreign organization or individual must be conducted in the form of competitive offers in accordance with international practices from at least 3 (three) ship owners or brokers; the ship purchase and sale between an enterprise and a Vietnamese organization or individual must be conducted in the form of auction in accordance with law or competitive offer in accordance with international practices.