Nairobi International Convention on the Removal Wrecks entered into force on April 14, 2015 and applies to all the vessels (including fishing vessels and commercial yachts) of 300 GT or above. For entry into ports and territorial waters of the State Parties to the Convention these vessels are required to carry evidence of insurance or other financial security to cover the cost to wreck removal.
For today Nairobi Convention has been ratified by Albania, Antigua & Barbuda, Bahamas, Bulgaria, China, Congo, Cook Islands, Cyprus, Denmark, Finland, France, Germany, India, Iran, Jordan, Kenya, Liberia, Malaysia, Malta, Marshall Islands, Morocco, Netherlands, Nigeria, Niue, Palau, Panama, Romania, Saint Kitts and Nevis, South Africa, Switzerland, Tonga, Tuvalu, United Kingdom.