Shipping Introduction
Ship registration has taken place on the Isle of Man for over two hundred years but it was the formation of the Isle of Man Ship Registry in 1984 which established the Island as a pre-eminent force in international shipping.
Since then, the Island has consolidated its reputation for the utmost efficiency, versatility and quality service and is the ‘flag of choice’ for many of the world’s superyachts and megayachts. The Registry now has a fleet of 1,000 ships and is confident of further growth.
The Isle of Man Ship Registry is a component of its British counterpart, which means that Manx-registered vessels may as a result, Manx-registered vessels may fly the Red Ensignbut draws support from the Island’s many unique strengths.
The Island provides expertise in ship management and finance, marine insurance and maritime law. It is supported in this by a robust infrastructure (which includes many legal, financial and corporate services experienced in working with the shipping sector); political and economic stability; and a Government which closely supports and works with the Register.
As a jurisdiction, the Island has shown itself to be flexible, competitive (economic benefits include zero annual tonnage dues) and customer-focused, with a detailed understanding of the needs of both ship owners and operators. As a consequence, a number of international ship ownership and management companies have elected to base their operations here, and the Island continues to be a symbol of excellence in shipping.