Malta is EU’s top shipping registrar with 14% increase in gross tonnage

Malta’s shipping register has increased by 8.3 million gross tonnage, a 14.3% jump over 2014 to bring to total tonnage at 66.2 million gross tons in 2015.

These are record figures for the Malta flag, which now has added over 900 over the past year, consolidating the island’s position as the leading ship register in Europe and the sixth largest in the world.

“Malta has also continued to consolidate its positive results in terms of its technical performance,

reinforcing the quality of its registered fleet and its firm commitment towards safe, secure and clean shipping,” Transport Malta said.

“This is also a result of the drive by the Maltese shipping community to attract more young and innovative tonnage to the fleet,” TM said.

The average age of merchant ships registered under the Merchant Shipping Act during 2015, was of 6.7 years, decreasing the average age of all the registered merchant fleet to 12 years.

TM executive chairman James Piscopo thanked ship owners and seafarers and the efforts of Merchant Shipping Directorate of Transport Malta. “Such achievement is testimony that commitment to quality pays and that the Malta Flag Administration has managed to concurrently increase both its growth rate and enhance the technical performance of its registered fleet. I take this opportunity to thank all stakeholders for their contribution and confidence shown in Transport Malta,” Piscopo said.

The Malta register today has also become a world leader in superyachts registration, registering an increase of 10.8% over the previous year to bring Malta’s superyacht fleet to 501.

“These positive results encourage us to work harder to ensure that Maritime Malta continues to benefit from the associated positioning within these international sectors, both from the substantial direct foreign revenue and the indirect added value to its economy,” Piscopo said.

“These results also represent yet another milestone towards further consolidating Malta as an international centre of maritime excellence in the Mediterranean and a solid contribution towards the creation of quality jobs in Malta.”