Isle of Man Ship Registry enjoys a positive 2009 Gross tonnage grows 10% and Far East Market Developed

The Isle of Man’s Ship Registry continues to expand despite some very difficult economic times being experienced by world shipping. In 2009 the register grew by 1.03 million gross registered tons to a new high of 10.76 million at the end of the year, a net increase of over 10%.

This growth has been driven primarily through the introduction of new clients from the Far East who have registered some of their prestigious new supertankers in the Isle of Man following a targeted marketing drive by the DTI’s Ship Registry team in the region.

As a measure of the Isle of Man’s standing globally, the register is now listed among the top 20 registers in the world in terms of registered tonnage while operating in an extremely competitive environment of over 130 international ship registries.

In addition to the merchant ship growth, the Isle of Man added another 17 commercially operated super yachts to the register during the year. The majority of these are managed locally providing significant work for local specialists.

The Minister for Trade and Industry Hon. David Cretney, MHK said: “This very welcome growth in the register is testament to the hard work of the team at the Department’s Ship Registry. As the register grows so does the benefit to the local economy in professional support services, which is very important today. The maritime sector is now well established and a key sector of the economy, providing an excellent range of employment opportunities

Dick Welsh, Director of the Ship Registry said: “As the register’s influence becomes more established, its attraction in terms of the quality of the fleet and the client-focused approach of the registry team quickly becomes apparent. The register is also extremely competitive on price, which in these difficult economic times can make a real difference in keeping ships operating. We are delighted with the results over 2009 and will work hard to ensure this trend continues.”

ENDS

For further information Minister for Trade & Industry, Hon David Cretney Telephone: 01624 682350 or email David.Cretney@gov.im

Dick Welsh, Director, Isle of Man Ship Registry Telephone: 01624 688509 or email Dick.Welsh@gov.im