Entry into force of the financial guarantee for seafarers

On 18 January 2017, the amendment to the Maritime Labor Convention (MLC 2006) entered into force, including the obligation for shipowners to have compulsory insurance to cover abandonment of employment and claims for death or long-term disabilities of seafarers.

The amendments are based on guidelines developed by a joint IMO / ILO working group which reports to both the IMO Legal Committee and ILO governing bodies and require the shipowner’s financial security provider to issue a certificate or other documentary evidence of financial security. This certificate must be carried on board the ship.