Malta Considers Building Maritime Hub
Malta has expressed interest in developing a maritime hub at the former Malta Shipbuilding location featuring marinas, repair and supply facilities, insurance and legal companies and a maritime school.
Economy Minister Chris Cardona speaking on behalf of the plan last week said it would further develop the nation's already strong shipping industry:
We believe that Malta has great potential in the sector, thanks to our geographical position and harbours, but above all we have a tradition and culture which date back centuries...Together with other sectors that we have successfully established, such as financial services, we could continue developing Malta as a centre of maritime excellence.
Joseph DeGabriele of Transport Malta said of the hub's potential:
Number one - it will create more competition. At the moment there are [refit] yards but it’s restricted to practically two. A dynamic environment will attract a number of operators and benefits normally associated with [that] such as local competition, networking, people sharing ideas. Malta lends itself best for wintering and refit, not as a [yacht] destination...To me it’s an interesting initiative; it reaffirms the commitment of government towards the yachting industry.
