Pursuant to the Letter of Instructions (LOI) No. 341, directing the Maritime Industry Authority (MARINA) to act as the lead government agency to oversee and coordinate the establishment of lay-up centers in the Philippines within the Malalag Bay, Pujada Bay and Mayo Bay in Davao Gulf and prescribe/collect a nominal daily lay-up fee payable in US dollars or its equivalent in acceptable foreign currency in lieu of the berthing fee imposed on vessels under the Tariff and Customs Code, as amended, the prescribed vessel lay-up fees as adopted in Memorandum Circular No. 119 are hereby modified and amended as follows in order to prescribe an attractive fees that will be more competitive with other lay-up areas in Asia and to encourage shipowners and lay-up agents to consider Davao Gulf as the ideal lay-up center/sanctuary in the country:

(a)       For vessels whose tonnage capacity is 50,000 DWT and below	US$ 70.00 per day
(b)       For vessels whose tonnage capacity is above50,000 DWT to 150,000 DWT	US$ 80.00 per day
(c)        For vessels whose tonnage capacity is above 150,000 DWT	US$ 90.00 per day

All other provisions of MARINA Memorandum Circular No. 119, in so far as they are not inconsistent with this Circular shall remain in full force and effect.

This Circular shall take effect fifteen (15) days after its publication once in a newspaper of general circulation.

Adopted: 06 Sept. 2000

By Authority of the Board:

(SGD.) OSCAR M. SEVILLA
Administrator