IoM Registry To Fly Flag In Japan

by Amanda Banks, Tax-News.com, London

14 April 2010

The Isle of Man Ship Registry showcased its approach and offering at Sea Japan 2010, which ran from April 21-23, as part of its marketing activity in the Far East.

Dick Welsh, Director of the Isle of Man Ship Registry, commented: “Japan is a country we have proactively targeted over the past year and the signing of the Memorandum of Understanding represented an important step forward in our relationship with the region. Sea Japan offers an invaluable opportunity for us to engage with key individuals and businesses in the region and to communicate the benefits of registering vessels in the Isle of Man.”

Sea Japan also represents a perfect platform for the Ship Registry to highlight its new annual registration fee, which came into force on April 1, 2010. This is the first time in its 25-year history that the Ship Registry has introduced an annual fee, and unlike other registries the fee will not be dependent upon ship size or type.

“The global downturn has brought uncertainty and new challenges to the shipping industry. However, the Isle of Man Ship Registry has maintained its level of service and this, along with our favorable fee structure, helps our clients to address these challenges. We look forward to discussing opportunities and building closer ties with the shipping community in the Far East.”

A statement from the Shipping Registry further said: “Japan is of growing importance to the Isle of Man Ship Registry. Earlier this year the Registry signed a Memorandum of Understanding (MOU) agreement with Toko Maruraku Transportation Co Ltd, demonstrating the increasing significance it places on fostering greater ties with owners and operators in this region.”

“The MOU will facilitate the registration of vessels and related services between the Isle of Man Ship Registry and its growing number of Japanese clients offering Japan and other East Asian markets unprecedented instant access to Isle of Man flag services and vessel registration issues on a localized basis."

As well as attending Sea Japan, the Ship Registry team also held briefings with industry representatives in Singapore to build both awareness of the register and of the Island as a leading international business centre.

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