Isle Of Man Marks Registration Of 50th BP Ship

by Jason Gorringe, Tax-News.com, London

11 May 2006

The Isle of Man registry has reached another significant milestone with registration of the British Ensign, bringing the total number of BP ships on the jurisdiction's register to 50.

The vessel, an oil/chemical tanker built in Korea by Hyundai, is 177.48 metres in length with a gross registered tonnage of 23,270.

“We are delighted that such a highly respected multi-national organisation has chosen to flag their ships with us and this contributes greatly to our quality status and world-wide reputation," commented Minister for Trade and Industry, the Hon Alex Downie MLC.

Already the largest owner on the Isle of Man's registry, BP Shipping has plans to increase the number of ships on the register.

The total gross registered tonnage for the merchant fleet under the Isle of Man flag is currently 8.6 million tonnes with BP Shipping accounting for approximately 36% of that.

"BP Shipping have undertaken a vast new building programme which has reduced our age-profile significantly - so much so that the average age of our fleet now stands at 8 years," observed Mr Downie.

"The Isle of Man register prides itself on the maintenance of high standards in its ships and on the high quality of service provided to owners. It is this combination which has made the Isle of Man register successful and currently positioned number 2 on the Paris MOU white list of Port State Control," he added.

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