Isle of Man Now 14th Largest Registry
The Isle of Man is now the world's 14th largest registry as measured by gross registered tonnage according to Clarkson's World Research.
The Isle of Man registry reports:
The world rankings produced by Clarksons of registered fleet statistics by gross registered tonnage, issued in December, showed the Isle of Man has moved into 14th place, ahead of Germany for the first time in its history.
The table shows the Isle of Man register has grown by 7.4% in tonnage terms, which is over double the rate of growth of the world fleet at 3.6%. Of the top twenty registers, only Singapore, Marshall Islands and Hong Kong bettered our growth rate. As recently as 2010, the Isle of Man did not feature in the top twenty registers. This current position shows the significance of the tonnage growth of the fleet over the last few years as word spreads of the benefits of flagging in the Isle of Man.
The statistics confirm that the Isle of Man remains an attractive option for ship owners and operators looking for high quality and levels of service from their Flag State and yet which comes at a very competitive price. The Isle of Man has attracted new owners this year, some of which are choosing only Isle of Man flag for their vessels and newbuilding programs, demonstrating that it is the relationship with the administration and the response they receive on a day to day basis which they value most.
The fleet is now comprised of 40% Asian controlled tonnage and we welcome new clients from this important maritime region.
For additional statistics regarding the Isle of Man Registry's growth in 2014, click here.
