The success of the IMO’s 2020 sulphur cap set the tone for the shipping industry’s decarbonisation goals and the momentum built over the past three years has served as a catalyst for the introduction of new IMO 2023 Regulations. The amendments to the MARPOL Annex VI came into force on 1 November 2022 and were implemented on 1 January 2023, introducing new rules that target vessel efficiency aspects and carbon intensity, which have become mandatory for certain categories of Malta flagged vessels.
FFMS is delighted to have assisted with the delivery and registration under the Malta flag of the two latest additions to the MSC Cruise fleet: MSC World Europa & MSC Seascape. Whilst contributing over 200,000 gross tonnes to the Malta Registry, the MSC World Europa is also the first in her class to be equipped with Liquified Natural Gas (LNG) propulsion systems. With the intent of setting new standards for the cruise industry, this vessel has also been designed to include advanced waste management systems, anti-fouling paints and underwater-radiated noise control, making her the most environmentally sustainable cruise ship in the MSC cruise fleet. MSC are fully committed to provide a luxurious yet sustainable experience for their passengers.
The delivery of MSC World Europa has coincided with the 2022 World Cup event and owners have coordinated the vessel’s maiden voyage to Doha, where she was employed as a floating hotel for FIFA world cup fans. The Malta flag flying high above this spectacular vessel has attracted the attention of many visiting the country including Malta’s Minister for Foreign and European Affairs and Trade who was invited on board to tour the vessel.
Less than three weeks following the delivery of MSC World Europa, Fenech & Fenech Marine Services Ltd were once again busy assisting with the delivery and registration of the MSC Seascape. This is the second Seaside EVO vessel to join the fleet this year and aside from its remarkable dimensions, she boasts the latest marine technological innovations. Once again, MSC are setting a fine example for the industry by designing a vessel with the most innovative technology with a goal to reaching net-zero emissions.
Fenech & Fenech Advocates’ Ship Finance department are also delighted to have once again assisted MSC with the financing aspects of these two vessels.
On the 5th of May the Merchant Shipping Directorate of Transport Malta issued its commercial yachting notices (the “CY Notices”). The CY Notices are applicable to all commercial yachts flying the Malta flag and will serve as the main channel of communication to be utilised by the Merchant Shipping Directorate to communicate matters which the directorate wishes to bring to the yachting industry’s attention.
The Merchant Shipping Directorate puts the onus on every yacht owner, operator and manager to bring the CY Notices to the timely attention of all masters and officers engaged on Malta flagged yachts and to ensure compliance therewith.
The CY Notices epitomise the Merchant Shipping Directorate’s commitment to address the needs of the yachting industry and its ambition to continuously optimise its services to suit the yacht industry and its exigencies. Members of the industry wishing to keep abreast with all of the Merchant Shipping Directorate’s latest developments can send an email to firstname.lastname@example.org to be included in the Directorate’s mailing list.
Adrian Attard, Partner, Peter Grima, Senior Associate and Matthew Cassar, Associate, discuss the potential effects of the Russian-Ukrainian crisis on Maltese ship finance transactions and the implications of Russian sanctions on financiers in an article published in the ILO Shipping & Transport Newsletter and featured on Lexology.
Dr. Peter Grima’s latest article titled ‘The Rising Costs of Shipping: Their Causes and Impact’ was published by the Sunday Times of Malta. The article explores the impact of global covid containment measures on international shipping operations, trade and commerce, with a particular focus on the implications for bulk and container shipping.
Malta, having a long-standing tradition as a maritime nation, has for the 13th consecutive year, been elected to the 40-member Council of the International Maritime Organisation (IMO).
The IMO is the United Nation’s specialised agency responsible for the safety, security and environmental performance of international shipping and the Council therein, elected by the Assembly, is the executive body that supervises the work of the organisation.
Malta has been elected as one of the 20 Category (c) States, which are States having a special interest in maritime transport or navigation and whose election to the Council until 2023 ensures the representation of all major geographic areas of the world.
This is a further confirmation of Malta’s standing as one of the largest maritime flags in the world and the active and well-respected role it plays within the global shipping industry.
Stephanie Farrugia, Associate within the Ship Registration Department has published an article regarding Malta’s publication of a New Passenger Yacht Code, in the ILO Shipping & Transport Newsletter and featured on Lexology. You may read the full article by clicking here.