For the first time ever, the registered tonnage of ships registered in Malta’s Ship Registry has exceeded 50 million gross tons. Last year, the ship registry saw a growth of 13.6%, with growth of 18% also seen in yacht registration over the previous year.
James Piscopo, Chairman and CEO of Transport Malta, speaking to the Times of Malta, stated, “We achieved solid growth, improved the technical performance of the registered fleet and further consolidated Malta’s position as a European leader in this maritime sector.” These results solidify Malta’s position as the largest merchant flag in the European Union and the seventh largest in the World.
Some Advantages of Registering a Ship under a Maltese Flag
•Ships may be registered in the name of legally constituted corporate bodies or other entities irrespective of nationalityRe
•No restrictions on the nationality of the masters, officers or crew
•No restrictions on the sale or transfer of shares of a Company owning Maltese ships
•No restrictions on the mortgaging of Maltese ships
•24/7 service in respect of urgent matters
•Attractive incentives to owners, registered charterers and financiers of Maltese ships of over 1,000 net tonnage