Business News

Malta’s ship registry among top 20 for the first time in Paris MOU’s white list 

31st July 2020

The Paris MOU is made up of 27 maritime administrations, covering waters from North America to Europe

Malta’s ship registry has made it to the top 20 white list of the Paris MOU for the first time, ahead of other maritime hubs including Italy, Turkey and Portugal.

The port state control agreement, which consists of 27 maritime administrations ranging from Europe to North America, aims to eliminate the operation of sub-standard ships through a harmonised system of port state control.

Between 2017 and 2019, 4,652 inspections were carried out on Malta’s ports.

Malta’s flag is the largest in Europe and the sixth largest globally, a solid standing which Transport Minister Ian Borg said is the result of hard and diligent work. Similarly, Malta also placed 17th in the Tokyo MOU.

Speaking from a press conference this morning, the minister said “we are striving to create quality, confidence and a good reputation in the industry, by not only seeking out quantity but quality vessels to enrich the fleet,” Times of Malta reported.

Drawing on the latest figures, the minister said that Malta doubled its tonnage in seven years, from 42 million to 83 million, and the shipping industry currently accounts for around 14 per cent of the country's GDP.

By the end of 2019, Malta’s fleet included 800 registered superyachts, with another 37 registered in the first seven months of 2020, he added.

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Malta’s ship registry among top 20 for the first time in Paris MOU’s white list