Malta’s ship registry breaks into Paris MOU’s top 20

Malta’s ship registry breaks into Paris MOU’s top 20

Malta's ship registry has been placed 17th in the Paris MOU's white list, breaking into the top 20 for the first time. The port state control agreement carries out regular inspections to assure quality among maritime administrations and covers European and North American waters. Its publication of white, grey and black lists gives added value to a nation's flag. Malta has the largest registered fleet in Europe and the sixth largest globally. In a press conference at Fort St Angelo on Friday morning, the Transport Minister said that good results in the shipping industry did not come about by accident but were due to the hard and diligent work of the state regulator. 

''We are striving to create quality, confidence and a good reputation in the industry, by not only seeking our quantity but quality vessels to enrich the fleet,'' 
With less than 2% detention rate, Malta has also done well in the Tokyo MOU, similarly placing Malta in the 17th place on the white list. It was also noted that Malta had doubles its tonnage from 42 million to 83 million in seven years whereas the shipping industry currently accounts for some 14% of the GDP while creating high-value jobs. Malta's fleet, also included 800 super yachts at the end of 2019 and in the first seven months of this year had registered another 37. Maltese flagged super yachts are a particularly niche industry that attracted attention to Malta in a different way, saying that even casual snaps of celebrities such as Christiano Ronaldo, holidaying on Maltese flagged ship boosted the regulator's profile and reputation. The Minister concluded that when a vessel was registered in Malta, interest also brought investment, as is the case in the recently signed agreement between Palumbo and MSC shipyards. 

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Source: Times of Malta.