The lowest fine, 300 euros, will be for boats travelling at one to three knots above the maximum speed limit.
It will rise to 700 euros for three to five knots over the limit, 1'200 euros for five to seven knots and the top fine of 1'500 euros will be for speeds of more than seven knots above the limit.
The amount of the fine will be reduced by 30 percent if it is paid on the spot.
The new regulations also allow the authorities to retain boats when the person infringing the speed limit cannot show that he/she lives in Spain and does not deposit or guarantee payment of the fine.
The Port Authority has also approved a fine of 1'500 euros for speeding when damage has been caused to third parties, or the speeding has given rise to dangerous situations.
The Port Authority said yesterday that the general sailing regulations laid down by the Balearic maritime authorities in April 2002, state that any boat entering, leaving or travelling in a port, can travel, as maximum, at the authorised speed indicated in said port, or three knots, or at the minimum speed indicated by the government. Boats cannot sail in these waters at speeds which present or could cause damage to third parties or dangerous situations.
The Port Authority announced the new fines as a warning to boat owners, and as part of its efforts to prevent accidents at sea.
The number of yachts moored around the Balearics increases in summer, and with it the danger of accidents.
A Port Authority spokesman said that it was important for skippers to realise the dangers involved in speeding within the service areas of the port.
And when cruising around the coast, he added, they should keep a safe distance from the shore to avoid bathers and use the shipping channels for approaching the shore.
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