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Malta’s ship registry sees record growth

Date: 19/02/2014

Malta's ship registry saw growth of 13.6%, equivalent to over six million gross tonnes last year, with growth of 18% also seen in yacht registration over the previous year.

Transport Malta said these positive results consolidated Malta’s position, as the largest merchant flag in the European Union and the seventh worldwide. As at the end of December 2013, the registered tonnage of ships registered under the Merchant Shipping Act exceeded the 50million gross tons for the first time ever, totalling 51.8 million gross tons.

James Piscopo, Chairman and CEO of Transport Malta, said the past year was a  record year for the Malta Ship Register.

"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. This success couldn’t have been achieved without the efforts of all stakeholders including ship-owners and seafarers and the unfailing support of the local industry. I must also commend the efforts of the employees at Transport Malta, in particular those of the Merchant Shipping Directorate, whose sheer commitment and a sense of service was crucial to the success."

Transport Malta said Malta had also continued to consolidate its position on the White List of the Paris and Tokyo Memoranda of Understanding on Port State Control (Paris and Tokyo MoUs). The Paris MOU and the Tokyo MOU are agreements between different ports in a particular region aimed at harmonising their inspections on foreign flagged ships when calling at their respective ports with the objective of enhancing safety and the protection of the marine environment. During 2013, the Malta flag also registered positive results in terms of port State control performance reaffirming its long term strategy to achieve growth though quality and underpinning its firm commitment towards safe, secure and clean shipping.

Improved results were also registered in the registration of superyachts. Despite a challenging environment worldwide, the Malta flag registered an increase of 18.1% over the previous year, in the registration of superyachts of over 24 metres in length. As of the end of December 2013, the superyacht fleet flying the Maltese cross worldwide was 398.

Mr Piscopo concluded: “These record results provide the necessary drive to continue investing in the Maritime sector and consolidating Maritime Malta as an international centre of maritime excellence in the Mediterranean”

Source: Times of Malta

 
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