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27 Jan 2012
Malta sees increase in superyacht registration
By Lulu Trask
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The Maltese Shipping Register has been confirmed as the largest merchant flag in Europe, and seventh in the world, by Clarkson research Services. The close of 2011 saw an increase of over 6 million gross tonnage (GRT) since 2010 – a growth of 16.1% - for the Maltese Shipping Register. This news comes shortly after the Isle of Man Ship Registry confirmed record tonnage for 2011.Commercial success was also prominent, with an 18.6% increase in the registration of superyachts sized 24m or above over 2011. The increasing number of superyachts registering in Malta has been a continuing trend for the past three years, with the close of 2011 seeing nearly 300 superyachts registered.
Minister Gatt commented: “we are very proud of the strong performance of the Maltese Shipping Register. The latest published statistics represent record figures for the Malta Flag and a significant achievement for the Malta Flag Administration over the past decade.”
Gatt also announced that Malta had recently been confirmed by the Paris Memorandum of Understanding on Port State Control (Paris MoU) on the list of ‘low risk ships’ under the New Inspection regime. Transport Malta has said this new low risk status will translate into benefits to Maltese registered ships, both merchant and commercial. Joe Degabriele, Chief Operations Officer of Transport Malta, outlined the of the low risk status: “superyacht owners, managers and captains will benefit through being targeted less for Port State Control inspections.
Transport Malta also provided SuperyachtNews.com with figures for the number of superyachts registered with the Maltese Shipping Register since 2008:
2008 – 161
2009 – 193
2010 – 248
2011 – 294
Acknowledging that the Malta Aviation register also had a successful year, Gatt concluded, “these results encourage us to work harder to ensure Malta continues to benefit from the associated positioning within these international sectors, from the direct revenue and the indirect added value they bring to our economy.”
Related Links
Transport Malta Website
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