With no less than 850 vessels bigger than 24 metres, Malta’s Shipping Register can now boast of being the world’s largest register of superyachts. This means that nearly one in every 13 superyachts around the world are now registered in Malta. More and more superyachts, owned by some of the world’s wealthiest people are also based in several marinas around the islands and many high profile VIPs such as Rihanna, Beyoncé, Barack Obama and Bill Gates have been photographed on superyachts flying the Maltese flag.
This milestone was announced by Minister for Transport, Infrastructure and Capital Projects Ian Borg, who lauded Transport Malta’s work to regulate the sector. “With quality, reputation and confidence, which I think are the three most suited adjectives to describe Malta’s merchant shipping register, we are here today to announce more positive results and achievements. As a united government, we are committed to keep on building on what has been achieved by now”, said the minister during a press conference announcing this milestone. He added that the agency has achieved this milestone largely through consistent dialogue with stakeholders. Minister Borg added that despite the effects of the COVID pandemic on global economies, Malta has seen a 7% increase in the number of registered yachts over this year alone.
During the same press conference, a revised Code for commercially available luxury yachts was also announced. This reinforces the proactive and dynamic traits of the Maltese register and further showcases the possibility to attract more yachts. The revised Code includes standards for larger yachts, efficiency with regards to emissions, and also the concept of green yachts. In this way, Malta is setting a high standard and incentivises yachts that are more environmentally friendly. A consultation process, regarding the new Code, coined as the Passenger Yacht Code was announced. By time, these types of yachts are getting larger in size, and therefore a dialogue with the industry took place which provided a stage to allow for new opportunities and achievements as a result of this new Code.
“That is why after a wide consultation, today we are pleased to announce that a number of courses have been developed for the yacht industry both locally and internationally. In this way we will continue to make Malta a centre of excellence in terms of maritime training for such an important industry”, said Minister Ian Borg. For the first time, Malta will offer specific courses that will give rise to new opportunities for Maltese youths who work in the superyachts sector and will create more attractive job opportunities for future generations.
Minister Ian Borg concluded by thanking all officials and employees of the Merchant Shipping Directorate and stating that these achievements could not be possible if it were not for their hard work and dedication. He also affirmed that Malta’s Government is committed to keep building on this chain of successes for the common good of all Maltese and Gozitans.
More information about ship and yacht registration in Malta can be found here: https://www.transport.gov.mt/ship-registration
