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Isle of Man shipping

Isle of Man ship registry announces key changes 

 

The Isle of Man Ship Registry had announced three important changes to its operating practices designed to make registration more attractive and simpler for its clients. 

 

These are: 

New Flag-In Requirements 

The ship registry has removed barriers - some perceived and some practical - for clients wishing to register. It will now be simpler, easier to arrange and more cost effective. These changes include: 

  • Pre-registry survey requirements – where an absolute requirement regto visit and inspect each vessel prior to registration was in place, the registry has waived this requirement for vessels under 10 years of age, which satisfy its vetting processes for both ship and company performance. This includes new buildings, many of which are under construction in the Far East, which should assist the registry process and reduce the initial costs for Isle of Man registration dramatically. 
  • Accepted ship types – previously excluded ship types such as passenger vessels have now been permitted to register. This is a natural progression as super yachts become larger and move towards full SOLAS compliance for greater guest numbers. 
  • Age limits – the limits to age on entry for ships have been expanded. Previously set at 15 years – this has been extended to 20 years and even further for vessels which are technically managed from the Isle of Man.

Accepted countries  

In 2007 the Isle of Man introduced legislation to extend the number of countries accepted for ownership of Manx vessels. Previously we were constrained by legislation inherited from the UK to EU; EEA and British Dependent Territories. The list of accepted countries has now been extended to include:  

  • Australia;
  • Bahamas;
  • Canada;
  • China;
  • Hong Kong;
  • India;
  • Japan;
  • Liberia;
  • Marshall Islands;
  • New Zealand;
  • Pakistan;
  • Panama;
  • Russia;
  • Singapore;
  • South Africa;
  • United Arab Emirates; and
  • the United States.

This will allow ownership structures of vessels using companies registered in the above countries to remain unchanged when vessels transfer registration to the Isle of Man and thus provide a smoother transition. 

Stephenson Harwood  

In lieu of British consular services in London, Stephenson Harwood has acted on behalf of the Isle of Man in receiving title documents (Bill of Sale, registration of mortgages) on behalf of the Registrar of Ships. This service has now been extended to include Stephenson Harwood’s offices in Piraeus, Hong Kong, Singapore and Shanghai, thus covering many of the world’s major shipping centres. 

 

Owners or operators wishing to take advantage of, or discuss these changes, should contact the ship registry on +44 1624 688500 or by email at registry.marine@gov.im