The Malta Flag is the 6th largest Ship Register worldwide and the largest register in Europe. The gross registered tonnage under the Malta Register as at the end of December 2014 was 57.9 million gross tons, out of which more than 2500 vessels were merchant vessels. The Malta Register of Shipping registered an increase of 6.5 million gross tons in 2014 which resulted in an increase of 12.5% when compared to 2013.
In the yachting sector, the Malta Register has registered an increase of 13.6% over the previous year with regards to the registration of superyachts of over 24 metres in length, bringing the Malta Register the largest register worldwide in commercial yachts registration. This increase has brought the number of superyachts registered under the Malta Register to 452.
The average age of merchant ships registered under the Merchant Shipping Act in 2014 was 7 years thus decreasing the overall average age of the registered merchant fleet to 12 years.
The advantage of registering younger vessels under the Malta Ship Register through the progressive reduction in tonnage tax and registration fees for younger ships, has resulted in younger and more innovative vessels being attracted to the registry. The measure of acceptance of the Flag State is restricted to vessels not older than 25 years and the quality of the flag is furthermore ensured through flag state inspections, on vessels falling within a certain criteria. These have resulted in an increase in quality of the fleet under the Malta Register and can be seen through excellent reports in port state control performance.
The continuous commitment of the administration in accepting only high quality vessels under the Malta Registry has resulted in having vessels listed which are safer and which contribute to a cleaner environment. The increase in the growth rate of the registered tonnage and increase in the technical performance of the registered fleet also shows the Malta Registry’s commitment in improving the quality of the flag. This is further shown through Malta’s continued consolidated position on the Paris MoU and Tokyo MoU White Lists.