Malta Ship Registry

Group 4

Origin of Malta Registry

Italy

Malta

FranceRomania

Greece

TurkeySpain

Origin of Malta Registry

• Malta is a southern European country which covers just over

316 km2. It is the smallest European country

• located in heart of Mediterranean Sea

• deep natural harbors

• Malta offers a whole range of international maritime services

• reputable open ship register

• largest ship register in Europe

• seventh largest ship registry in the world

• The Merchant Shipping

• Act was amended in 1986, 1988, 1990 and 2000 Act 1973

Flag State and Coastal State Regulator Control in Malta Registry

Flag State Regulators Low company formation and ship registration

costs No restrictions on the nationality of the ship

owner Complete tax exemption No restrictions on the nationality of the master,

officers and crew No restrictions or taxation on the sale or

transfer of shares

Coastal State Regulators

• Thoroughly concerns on preservation and protection of marine environment.

United Nations convention on the Law of the Sea

International Maritime Organization conventions

Internal Waters, Territorial Sea, Archipelagic Waters &

Contiguous Zone

2001 Convention on the Conservation and Management of

Fishery Resources in the South East Atlantic Ocean

Exclusive Economic Zone

Evolution of Malta Maritime

Evolution of Malta Maritime

Different types of ships registered under Malta Registry

Countries of Ownership – Malta registry of ships

The countries

of ownershi

p

Greece Germany United States

Japan China Republic of Korea

All other owners

Thousands of DWT

27,702 3,280 655 200 106 8 23,839

Services provided by Malta Registry

• Malta flag presents owners with a number of attractions due to the seamless services provided to the owners of inside and outside the boarders of Malta

• Following services can be identified Ship registration Bareboat charter registration Incorporation of shipping companies Yacht registration Leasing facilities

Services provided by Malta Registry

• Fiscal services Tonnage tax regime in registration Eligible for exceptions in income taxes and other taxes Progressive reduction on young vessels Tax exceptions for dividend payments

No restrictions on sales and mortgaging Maltese ships

Twenty four hours, seven days a week service in respect

of urgent matters

Active participation on international shipping forum.

Vetting process

Certifications Issued by a Classification society •Load Line•Safety Construction•Safety Equipment•Safety Radio-telephony •IOPP Certificates Other relevant documents

Only Following are approved by Malta

• American Bureau of Shipping (ABS)

• Bureau Veritas (BV)

• China Classification Society (CCS)• ClassNK (NK)• Det Norske Veritas (DNV)• Germanischer Lloyd (GL)

• Korean Register of Shipping (KR)

• Lloyds Register of Shipping (LR)• Polish Register of Shipping (PRS)• Registro Italiano Navale (RINA)• Russian Maritime Register of Shipping (RS)

For Older Vessels

• Vessels Between 15 to 19 year: Inspection by authorized inspector at a dry-dock

• Ships between 20 to 24 years: Documents with Class Survey Status Report or information on the validity of the current statutory certificates of any recommendations should be provided before the inspection

• Ships over 25 years will not pass through the vetting process of Malta

The role of the maritime administration

• Registration of ships

• Administration and enforcement of the Merchant

Shipping Act 2001 legislation.

• To develop shipping and to ensure that the country's

maritime activities are conducted in accordance with the

local and international standards of maritime safety and

pollution prevention.

• Enforcement of International Maritime Conventions

• Investigation of Marine Casualties

Recommendations for the Ship Owners

Pros•Strong maritime history and high reputation

− Largest ship registry in Europe− In the White List of Paris MoU

•Low tonnage tax and registration costs − 30% reduction in annual tonnage tax for <5 years ships− 15% reduction in annual tonnage tax for 5-10 ships

•Provision of incentives − for ships over 1,000 net tonnage

• Less restrictions – on the nationality of the ship master, officers and crew– on the sale or transfer of shares of a company owning Maltese

ships– on the selling and mortgaging of Maltese ships

• Provides whole range of international maritime services and facilities – extensive bunkering– ship supplies and towage services– ship building and ship repair yards– 24/7 efficient administrative services

Cons

• Ownership requirements for registration

Should be owned by

– A Maltese or EU Citizen

– A company incorporated in Malta

– A foreign company which is registered in Malta

Or a local representative/agent should be appointed

• Drawbacks in legal procedures

filing a valid sea protest