INTERNATIONAL CONVENTION ON TONNAGE MEASUREMENT OF SHIPS, 1969
      
PROVISIONAL FORMULA TO CALCULATE A REDUCED GROSS TONNAGE
     OF OPEN-TOP CONTAINERSHIPS
          
          
          1 The Maritime Safety Committee, at its sixty-second
    session (24-28 May 1993), approved proposals by the Sub-Committee on Stability and Load Lines
    and on Fishing Vessels Safety regarding gross tonnage of open-top containerships. 
2 To reduce the economic disadvantages caused by the use
    of greater gross tonnage in comparison with gross tonnage of conventional containerships for
    assessing fees, the Committee agreed to recommend a reduced gross tonnage for open-top
    containerships based on a provisional formula as follows: 
 Reduced GT = GT [1 -    
     
(30000- GT) / 
1000     x   0,007 ] 
3 The above
    formula is subject to review and improvement before adoption by the Assembly of the
    Organization. For this purpose, Governments are invited to submit to the Organization
    information on open-top containerships in operation and under consideration which would enable
    the assessment of final coefficients in the formula, including principal dimensions, gross
    tonnage, underdeck and ondeck carrying capacities of containers, deadweight, etc. 
4 In the meantime, Administrations may use the above
    provisional formula and include in the "Remarks" column of the International Tonnage Certificate
    (1969) the following statement: 
"In accordance with TM.5/Circ.4, a reduced gross tonnage
    may be used for open-top containerships for the sole purpose of calculation of tonnage-based
    fees. 
The reduced gross tonnage is
    ................................................................................"