(NAR) VOL. II NO. 2 / APRIL - JUNE 1991
An additional two (2) years may be allowed in meritorious cases as determined on the basis of favorable cost-benefit analysis.
Type of Vessel Minimum
Size LimitMaximum
Age LimitBarges Total restriction —Tugboats 4000 BHP 12 yrsLCTs 2000 DWT 10 yrsFishing Boats 250 GRT 10 yrsCargo Vessels 750-1000 DWT 8 yrs1000 DWT and above 10 yrsFerry Vessels Total restriction —Passenger Vessels No restriction 10 yrsCargo-Passenger Vessels 750 DWT 10 yrsSpecialized Vessels e.g. RO-RO/
Containerized/ Reefer/etc.No restriction 12 yrsTankers 1000 DWT and above 12 yrs