That's pretty much it. But it's not a case of so much each year but rather
so much times the number of years of the life of the license. Mine started
June 1st of 2001 and I've got just shy of 60 days time on it. Suppose due
to work considerations I only get 30 a year average on it through June 2004
or 120 days. 45 times five if I have it right is 225 and the last two years
I'd have to do 105 or 55.5 per year. However once I finish the rebuild I'm
only working four on four off give or take to no more than age 62. Then,
hopefully, social security kicks in and I'm done working for good except for
using the license. The license is up in 2006, I turn 62 a year later.
Should be no problem. And if I get the 200 ton upgrade even less of a
problem. That with the STCW added on should make it a very useful document.
Leastways that's the plan. Now it's just a matter of making up for lost
time . . .and (tongue in cheek) hoping my retirement doesn't disappear.

MST