Isle of Man Ship Registry Sails into The Year of The Dragon with Record Tonnage
A 12% increase The Isle of Man ship registry, one of the world's leading ship registries, just announced record tonnage for the year ending 2011, entering the Year of the Dragon with a bang.Gross Registered Tonnage (GRT) is the datum used to compare the world's ship registers and a year on year comparison shows a 12% increase in total GRT, climbing steadily from 12.36m GRT at the end of 2010 to 13.84m GRT as we enter 2012.With the new numbers, it is now among the top 15 ship registries in the world. This demonstrates significant growth in the larger types of vessels registering given that the register topped 10m GRT for the first time in its history in April 2009. The market segment which saw a rapid take-up rate, was the Asia Pacific region, particularly Japanese and Singapore-based corporations, who are now more perceptive of the flag's value.Dick Welsh, Director of the Isle of Man Ship Registry, said: "The growth in numbers shows that we are well placed to provide a more cost effective solution for registration without any compromise in quality or service for ship operators and owners.""Having just recovered from the global crisis of 2008, ship owners are ...
Read more