Super Yachts Play Significant Role in Expansion

Isle of Man builds on Superyacht Registration Success

The Isle of Man’s Ship Registry continues to expand its services to superyacht owners and operators despite some very difficult economic times being experienced.

In 2009 the register grew by 1.03 million gross registered tons to a new high of 10.76 million at the end of the year, a net increase of over 10%.

Super yachts have played a significant role in this growth with 17 commercially operated super yachts joining the register during the year. The majority of these are managed locally providing significant work for local specialists.

Growth in other areas has been driven primarily through the introduction of new clients from the Far East who have registered some of their prestigious new super tankers in the Isle of Man following a targeted marketing drive by the DTI’s Ship Registry team in the region.

As a measure of the Isle of Man’s standing globally, the register is now listed among the top 20 registers in the world in terms of registered tonnage while operating in an extremely competitive environment of over 130 international ship registries.

Dick Welsh, Director of the Ship Registry said: “As the register’s influence becomes more established, its attraction in terms of the quality of the fleet and the client-focused approach of the registry team quickly becomes apparent. The register is also extremely competitive on price, which in these difficult economic times can make a real difference in keeping ships operating. We are delighted with the results over 2009 and will work hard to ensure this trend continues.”