Regarding our newsletter* of October 30th of 2020 informing about the new speed limit of 9 knots established between Km 406 and 435 of the Paraná River, we have the duty to inform that the Argentine Coast Guard is monitoring the speed of vessels navigating on the mentioned area and they are notifying those who exceed the 9 knots.
Due to this notification and considering that pursuant to local regulations the agent (as legal representative of the owner) might receive a fine in the future, the formers are requesting LOUs of about USD 35.000 as counter security for the potential penalty.
We would like to clarify that the penalties arising out as consequence of nautical infringement are not covered by the P&I policy, consequently obtaining the LOU from the Club may take longer than usual and could cause delays to the vessel.
We suggest the owners navigating between Km 406 and Km 435 of the Paraná River to require the Pilot on board to make sure not to exceed 9 knots of speed.
*http://simonsen.com.ar/2020/10/30/new-speed-limit-between-km-406-and-435-of-rio-parana/
