Thursday, February 21, 2008
Malta's ship register records further growth
Malta is well known to be a Registry of Choice - providing ship ownership with attractive advantages for registering her ships, while providing the confidence that their vessels will be welcome in other ports, because of the observance of international standards and network of good relations with other states. So far, Malta has been the fifth largest ship registry in the world - an impressive achievement when considering the large availability of registries elsewhere.

Yesterday morning, it was reported that a record 29.5 million tons of shipping have been registered under the Maltese merchant flag, a record since the Maltese shipping register was established in 1973.  It was said that the record, achieved over the past few weeks, was accompanied by another first in that cruise liners are now being registered under the Maltese flag, and that 12 cruise ships currently fly the Maltese flag, including some vessels operated by Royal Caribbean. The outlook looks good, with the industry magazine Fairplay having reported that 210 ships currently under construction will be registered in Malta, adding a further 12.5 million tons to the register.

Malta lies in the heart of the Mediterranean and has a number of natural bays. It also has a large natural harbour, which offers a wide range of maritime facilities to those berthing there. Some are government related and provided by the Malta Maritime Authority, while others are provided by other entities.

Ship registration is relatively straightforward, especially now that it is possible to register a ship under an 'international owner', thereby avoiding the incorporation of a company registered in Malta - subject, of course, to a number of conditions and controls. Should a ship owner still wish to have a company formed in Malta, this is also an expedient process with a number of advantages.

We would first register your ship on a provisional basis and then, subject to completion of all formalities, we would convert it to a full registration. For more information, please send an email to gspiteri@cclex.com.
legal
2/21/2008 9:06:17 AM (Romance Standard Time, UTC+01:00)  #    Disclaimer  |  Comments [0]  |  Trackback
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