Isle of Man Ship Registry reports strong 2017 figures

Flags, Reports — By on May 14, 2018 at 10:01 AM
  • Fleet growth recorded at twice the rate of the world fleet
  • Record high gross registered tonnage of nearly 17m achieved in 2017

The Isle of Man Ship Registry (IOMSR) achieved record success last year, growing at twice the rate of the world fleet and recording 16.7 million gross registered tons at the end of 2017, its highest amount since inception1.

  • The IOMSR ended the year with 6.4% growth in merchant fleet tonnage compared to an overall world fleet growth of just 3.3%
  • The previous tonnage highpoint of 16.56 million was recorded in June 2014, while tonnage hit 15.7 million at the same time last year
  • At the end of the financial year, the IOMSR was the 13th largest in the world in terms of gross registered tonnage.

The 2017 Annual Report also illustrated another successful year for client services, with 425 ships and 140 superyachts registered. In addition, 4,301 seafarers’ documents were processed.

Dick Welsh, Director, Isle of Man Ship Registry, commented: “I’m immensely proud of the Isle of Man Ship Registry’s achievements last year. This was all accomplished during a year of change. We implemented many ground-breaking developments, including the introduction of a New General Inspection regime, full delegation to Class, and a consolidated fee structure. At the same time, we continued our digital journey to on-line processes and issuing digital endorsements and ship certificates. This all underlines our commitment to providing a more efficient and competitive service for clients.

“However, we won’t take too much time to reflect on last year’s successes, as we continue to find ways to further enhance our offering in 2018. Firstly, we will be launching a new element of digital services to our on-line platform. This will be a finance module, allowing direct billing from the Ship registry and secure on-line access to make payments and review accounts for clients, providing a smoother process and complete transparency, accuracy and reconciliation of our accounts.”

The 2017 Isle of Man Ship Registry Annual Report is available to view here:

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