Faroese Registry Experiencing Steady Growth
The Faroe Islands Register is becoming an increasingly popular choice for shipowners, particularly in the Scandinavian market.
The Faroe Islands, a self-governing administration with political ties to Denmark, has seen business from Swedish owners and managers looking for alternatives to their flag.
The Faroese registry, which has developed its marketing efforts over the past five years, currently holds 87 vessels and hopes to increase that number to 200 within the next three years.
The OGSR in its reporting has seen the Faroe Islands' presence in the registry market strengthen over the past few years and will continue to monitor its progress.
