THE island’s Ship Registry is planning on blazing a New Year trail after announcing record tonnage figures.
It is now among the top 15 ship registries in the world.
Delighted director Dick Welsh told Business News: The island is really punching above its weight and is recognised as a major player on the global stage.’
And he revealed the latest good news has come as the registry prepares for an increased push for business across the Asia Pacific area.
The Year of the Dragon is about to start in the Far East and the island’s registry is gearing up for busy times in that part of the world.
Manx born Mr Welsh also praised his hard-working team at the registry which is part of the government’s Department of Economic Development.
PRAISED STAFF
Speaking from the offices in Myrtle Street, Douglas, he pointed to some of the registry’s 28 staff and said it was not unusual for people to return to their desks in the middle of the night to finalise registrations of ships.
‘Their dedication and goodwill is second to none,’ said Mr Welsh who has been at the helm for six years.
The figures are impressive. Gross Registered Tonnage (GRT) is the name used to compare the world’s ship registers. A year on year comparison shows a 12 per cent increase in total GRT, climbing steadily from 12.36m GRT at the end of 2010 to 13.84m GRT as we enter 2012.
Mr Welsh confirmed that with the new numbers, it is now among the top 15 ship registries in the world. He said this demonstrates significant growth in the larger types of vessels registering, given that the register topped 10m GRT for the first time in its history in April 2009.
The area which saw a particularly rapid take-up rate was the Asia Pacific region, notably Japanese and Singapore-based corporations, who are becoming more and more familiar with the Manx flag’s value.
Mr Welsh told Business News: ‘The growth in numbers shows that we are well placed to provide a more cost effective solution for registration without any compromise in quality or service for ship operators and owners.
‘Having just recovered from the global crisis of 2008, ship owners are bracing themselves for another rocky year in 2012.
‘An oversupply of ships together with the global economic downturn is keeping freight rates down and making it difficult to keep vessels operating profitably in many sectors.’ He added: ‘The uptake on the flag registration has been encouraging. We are seeing an increased level of enquiries for vessels under construction or in-service which are planning to register, or change to Isle of Man registration. This hopefully will translate to an increased level of activities for us over the next two to three years especially across the Asia Pacific region.’