Mortgage

The purpose of this page is to provide an outline of the mortgage registration requirements. Full details can be found in section 38 of the Shipping Registration Act 1981 and Shipping Registration Regulation 25.

Mortgage registration

A mortgage can be registered on lodgement of :

the original mortgage instrument, and
the lodgement fee (see below).

After registration the mortgage is returned to the lodging party. The mortgage instrument will bear an official stamp showing that the mortgage has been registered.

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Mortgage particulars

The mortgage instrument must be duly signed by the mortgagor and include the following particulars:

Official number of the ship
Registered name of the ship
Mortgagor's name and address
Mortgagee's name, address and nationality
Number of shares mortgaged (there are 64 shares in a ship)

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Fees

The GST does not apply to services supplied by the Shipping Registration Office.

ship required to be registered* - $416
ship permitted to be registered** other than ship referred to in (c) - $250
ship on demise charter to an Australian based operator other than an Australian owned ship - $686

* Commercial ship 24 metres or more in tonnage length.

** Commercial ship less than 24 metres in tonnage length, government ship, pleasure craft and fishing vessel.

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Search of the Register

Details of prior mortgages, as well as ownership and caveats, can be obtained from the Register of Ships by:

inspecting the Register personally at the Shipping Registration Office in Canberra (fee $21 per ship), or
writing by fax or post for a certificate extract of the Register showing current title details (fee $41 per ship).

Fees are payable in advance. Credit service may be provided to approved customers.

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last updated: 22 June 2000