Cayman Islands Consults On Yacht Code

by Amanda Banks, Tax-News.com, London

04 August 2010

The Maritime Authority of the Cayman Islands (MACI), in conjunction with the Red Ensign Group (REG), has prepared consultation documents in relation to proposals for a new Code of Practice which applies to pleasure yachts.

The proposed Code is intended to apply to yachts of any size, in private use or engaged in trade, which carry more than 12 but not more than 36 passengers and which do not carry cargo.

The Code has been developed to address the difficulties in applying some of the international Convention standards, in particular the Safety of Life at Sea Convention and the Load Line Convention, which were designed for merchant ships and super yachts.

According to the MACI, the Code "in no way dilutes Convention standards but provides equivalent standards and arrangements, where appropriate, aimed at addressing in a pragmatic and practical way the challenges imposed by the design operation and usage of today’s large yachts." The MACI adds that the Code provides standards for both privately operated and commercially operated yachts.

After further industry consultation it is expected that the Code will be published by the REG and lodged, by the UK on behalf of the REG, with the International Maritime Organization by November of this year as the “official” REG-wide equivalent for this type of vessel.

The MACI said that the proposed Code "may be viewed as a natural progression, although philosophically very different from" the UK Large Yacht Code, which sets out standards for commercial yachts over 24m, less than 3,000gt and carrying not more than 12 passengers. The Large Yacht Code is being revised over the next few months.

Greg Evans, Director - Global Safety & Compliance, Cayman Islands Shipping Registry commented: “The Code has been developed in response to industry’s desire to have a single reference document for the construction and operation of large passenger yachts and represents a collaborative effort amongst members of the Red Ensign Group who collectively have a significant amount of experience in the very large yacht market. We are very excited by this development which represents some three years work to develop a pragmatic approach to an emerging demand for larger yachts, but ensures the highest safety standards are maintained for which the 'Red Ensign' is well known.”

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