Over 6,600 ships are registered in Malta under the Merchant Shipping Act
As reported by The Malta Independent, over 6,600 ships areregistered in Malta under the Merchant Shipping Act, making the Maltese merchant fleet the seventh largest world-wide.
The Transport Ministry said that Malta has established itself as one of the leading maritime hubs and service centres in the world. With a fleet gross tonnage of 56.8 million tonnes including 450 super yachts over 24 metres in length, Transport Malta generates 13 million annually fromregistration services and other ancillary service related thereto. The payable fees are regulated by the ‘Merchant Shipping Act – First Schedule’. ATransport Ministry representative said that”it is to be noted that this revenue does not include revenue generated bymanyprivate firms involvedwithin the maritime industry.”
Malta has developed a very strong regulatory platform that has enabled the Malta Flag to become a reputable and internationally recognised ship register, according to the representative. “Malta’s ship register has grown not only in numbers but also in repute, and today, the country is increasingly adding high-class ships to its fleet. This is a result of the good quality of service that offers value for money, backed by various initiatives and strategies in favour of the industry offering a holistic packagethat is recognised by ship owners worldwide”.
Source: CSB Group