During a press conference delivered by Transport Minister Ian Borg, it was announced that the Malta Shipping Register currently ranks first in terms of Superyachts registered, that is yachts larger than 24m.
The Maltese Shipping Register lists 850 vessels that qualify within the Superyacht category. This is especially remarkable given the developments surrounding the COVID-19 pandemic, where despite the disruption the registry continued to grow with a marked increase in the number of registered yachts by 7%.
The Maltese flag has offered the industry an avenue that guarantees quality and encourages confidence.
This news also comes in the wake of the newly revised Commercial Yacht Code (CYC 2020) as well as the announcement of a proposed draft of the Malta Passenger Yacht Code (PYC) 2020. The PYC 2020 is currently in the phase for public consultation.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.