The Paris MoU’s 51st meeting held earlier this summer, reaffirmed Malta’s ranking on the White List. The European Union’s smallest member state, boasting a record 77 million registered gross tonnes of the world’s merchant fleet, has grown from strength to strength over the last few decades.
The ranking of the top European flag comes as no surprise considering the ongoing investment made in the Maltese Registry’s Technical Department since the early 1990’s, which has ensured that the highest standards are maintained for Malta flagged vessels. Malta is a party to most of the international conventions. The current ranking is testament to the compliance with the applicable international conventions of the vast array of Malta flagged vessels ranging from tankers, cargo carriers, cruise liners, ro-ro ferries, tug boats, pipe-layers, river vessels, pleasure and commercial yachts amongst others which can be seen hoisting the Malta flag.
The success of the Malta flag has been further boosted by the approval of the tonnage tax regime by the European Commission at the end of 2017 which prompted amendments to domestic legislation as of 1st May 2018. This reaffirmed the status of the Malta flag amongst ship owners and ship managers alike considering the benefits granted to such entities set up in Malta or entities owning or operating Malta flagged, or European Union flagged vessels.
Overall, the Malta flag has maintained a steady growth with increased registrations over the years, backed up by the major financiers in the maritime sphere. The White List ranking is indeed the result of a chain of developments in the local maritime industry which has contributed to the growth and stellar reputation of the Malta flag.
For further information on ship registration under the Malta flag please contact Rowena Grima on firstname.lastname@example.org or Lara Saguna Axiaq on email@example.com or Charlotte Spiteri on firstname.lastname@example.org. This article is not intended to offer professional advice and you should not act upon the matters referred to in it without seeking specific advice.