Heavyweight Registrations Enhance Reputation of IOM Shipping Registry

A number of the world’s largest shipping vessels currently in operation are in the process of being registered with the Isle of Man Shipping Registry, it has been confirmed.

The Registry is handling the delivery, flagging and registration of up to nine 13,100 TEU container vessels built by the giant shipbuilders Hyundai Heavy Industries in Korea.

At over 360 metres long and 48.2 metres wide, to date, they are the largest vessels to be registered in the Isle of Man.

So far, three of the vessels have been registered with the IOM Ship Registry, with the remaining six due to be delivered throughout the remainder of 2012 and the first half of 2013.

The lead Cavendish Trust Director, who heads up the Company’s Shipping Services Division, said the enormity of the Korean undertaking demonstrated the Isle of Man’s status as a leading jurisdiction for both ship financing and registration. “This news further underpins the Isle of Man Shipping Registry’s reputation as a major player within the global shipping industry and, at the same time, is a strong endorsement of the Island’s capabilities, in terms of delivering outstanding levels of service to the international business community.”

Commenting on the recent registrations, Isle of Man Ship Registry Director Dick Welsh said: “Adding nine such prestigious ships will enhance our reputation and add significant tonnage to the register with corresponding benefits for the Isle of Man.”

Meanwhile, to underline the Island’s commitment to professionalism and positive engagement with international business standards, it has been confirmed that the Isle of Man Ship Registry received no negative performance indicators in the 2011 Shipping Industry Flag State Performance, an annual exercise undertaken by the leading ship-owner groups.