Advantages of the Malta Flag for Vessels

A Strong and Positive Performance for the Malta Ship Register for 2015

16 Feb 2016

2 min read

As at the end of 2015, the Maltese Register of Shipping has registered an increase of almost 8.3 million gross tonnage representing a growth rate of 14.3% over that of the previous year. Indeed, by the end of 2015, a total of 66.2 million gross tons were registered under the Merchant Shipping Act.

These statistics represent a record figure for the Malta Flag and a significant achievement for Transport Malta since more than 900 vessels totalling a gross tonnage of over 12 million tons were registered during the year.

The aforementioned results have continued to consolidate Malta’s position as the leading Ship Register in Europe and the 6th largest Register in the world. This success has mainly attributed to the continued effort of both Transport Malta and the Maltese shipping community to attract professional companies within the shipping sector.

Transport Malta’s technical performance has also been a factor of these positive results, reinforcing the quality of its registered fleet and its firm commitment towards safe, secure and clean shipping. The results are also an outcome of Transport Malta’s drive to attract a younger tonnage fleet, decreasing the average age of the merchant vessels registered under the Malta Flag from 12 years to 6.7 years.

Mr James Piscopo, Chairman and CEO of Transport Malta has also remarked that the Malta Register has also become a world leader in super yachts registration. The Malta Flag registered an increase of 10.8%, over the previous year, of registered super yachts of over 24 metres in length. As at the end of 2015, the super yacht fleet totalled 501 yachts flying the Malta Flag.

Along the years, Transport Malta has developed a very strong regulatory framework that has enabled the Malta Flag to become a reputable and internationally recognised Ship Register. The Malta Flag has grown not only in numbers but also in repute, establishing a record figure of gross tonnage registered by the end of 2015.

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