Procedure on how to register the mortgage on a vessel.
Recording the mortgage in the register
A mortgage on a vessel may be recorded in the register as soon as the vessel is registered, upon presentation of the instrument of mortgage (in the prescribed form available from the Singapore Registry of Ships).
In the case of a provisionally registered vessel where the original document of title to ownership has not been submitted, the mortgage will only be recorded upon confirmation by the mortgagee that the document has been sighted by him.
Fees
A fee is levied for the recording of a mortgage and for a transfer of mortgage. It is charged according to the gross tonnage of the vessel or shares at S$48 plus S$1 per 100 gross tons or part thereof. The prevailing good & services tax (GST) will be taxed on this amount (currently, the GST is 7%).
No fee is charged for a discharge of mortgage.
Registration hours
Office hours are from 8am to 5:30pm, Monday to Friday.
Where a service to register or discharge a mortgage is required after office hours, prior arrangement must be made with the staff of the Registry of Ships.
