Registry Option – Maritime Law in Greece
Following the lively Posidonia 2014 most of us summarise and consolidate thoughts and considerations aimed at the efficient way of carrying out activity related to the maritime industry, based on the views picked up.
One of the focus areas for owners and companies is the flag their vessels fly. And of course the Greek shipping community is an important potential customer for the jurisdictions which offer shipregistry services.
Flag forum shopping has lately been enhanced, as Greek government measures aiming to address the crisis, have led to reputable shipping companies, big and small which traditionally are flying the Greek flag, to abandon it on their new acquisitions. Government measures have rendered the Greek state unreliable, and also created further perspectives to the already existing market of flag options.
We saw registries at Posidonia promoting their services; some already established in Piraeus, indeed with a longstanding presence and providing an efficient service. Others wish to enter the Greek market. From the perspective of the owner and also the maritime lawyer, a registry cannot expect to gain a portion of the market unless it has representation in Piraeus. This is especially so for jurisdictions with a significant time difference with Piraeus, as they cannot effectively offer real time services, from registration to signatures verification and issuance of certificates, if they have no office in Piraeus. Even when the time difference is small and allows remote registration, it is still an issue if one is unable to enjoy the trivial service of signature verification when needing it on the spot.
Accordingly, a proper registry service entails the existence of the registry’s representation in Piraeus. Such representation can be in the form of a Consulate, a special agency authorised to conduct registry activity or other forms of authority peculiar to each jurisdiction. This necessity is understood by registries and during Posidonia at least one announced it was opening a Piraeus office. Greek shipping needs efficiency and speediness. It will go where it can to find them. It has to be noted that registries represented in Piraeus, offer a thorough and valued assistance, making life easier for all involved.
The legal column was written by Manolis Eglezos, Attorney at law, Manolis Eglezos & Associates Law Firm, Attorneys at Law and Consultants