Someone told me I have been blogging a lot about Marco Polo Marine lately. Well, I guess it is natural since I think this is a company that is doing well and is likely to continue doing well.
My continuing research revealed that in Indonesia, foreign vessels that perform surveys, drilling, offshore construction, offshore activities, dredging work, salvage jobs and underwater activities for the oil and gas sector are exempted from the cabotage law.
The cabotage law? Indonesia enacted a cabotage law in 2005, but enforcement was delayed for years.
The Indonesian Cabotage Law requires all vessels operating in the country’s waters to register as Indonesian-flagged vessels by 7 May 2011.
Marco Polo Marine via its Indonesian subsidiary company, PT Pelayaran Nasional Bina Buana Raya (“BBR”), reflagged all its vessels earmarked for plying in Indonesian waters to comply with the law.
Apart from tugs and barges, Marco Polo Marine also owns a…