Strong Cayman Team Attends Fort Lauderdale Show

by Leroy Baker, Tax-News.com, New York

03 November 2008

As in previous years, the Cayman International Shipping Registry (CISR) had a promotional showcase at the Fort Lauderdale International Boat Show, which took place from October 30 to November 3.

An eight-strong team from the Islands joined up with six representatives from the CISR's local Florida office to attend the event.

There wasn't much evidence of the international credit crunch as boat-builders lined up to present their new models, and clients lined up to buy them. Exhibitors generally reported sales well ahead of last year.

This year marked the 49th annual show and featured more than US$3 billion worth of boats, yachts, super yachts, electronics, engines and accessories from virtually every major marine manufacturer and builder worldwide.

The Cayman team hosted "A Night of Spice" evening at the Samba Room restaurant in Ft. Lauderdale, co-sponsored by the Cayman Islands Dept. of Tourism, The Barcadere Marina development, and the law firms of Campbells, and Appleby, both long-time supporters, and Priestlys, co-sponsoring for the first time this year.

"It is partly through the relationships forged through these promotional initiatives that the Cayman Islands Shipping Registry has been able to achieve the status of global leader in the registration of mega-yachts," said CISR's CEO, Mr. Walton. "This is a vitally important venue for us to see, and be seen in," he emphasised.

Partnering in the exhibition space for the first time with the CISR was Grand Cayman's Barcadere Marina, currently being developed by Mr. Neville Scott. Providing amenities for yachts travelling the open ocean is a pivotal part of development plans for the Barcadere, Mr. Scott says, and he hopes the marina will re-establish Grand Cayman as a replenishment point for private pleasure yachts which all too often bypass Cayman because of a lack of specialised facilities to cater to them. He hopes to change that. The Marina is designed to deal with yachts up to 120 feet in length; bigger yachts will also be catered for with off-shore mooring facilities.

Also sharing booth space with the CISR was the Civil Aviation Authority of the Cayman Islands, as well as representatives of the Cayman law firms, Appleby and Truman Bodden, both of whom had partnered with the CISR in previous years. The Show gives them an opportunity to showcase their legal maritime services, and goes hand in glove with the work of the CISR. And the Aviation Authority of the Cayman Islands has also demonstrated a long-standing relationship with the Shipping Registry; Cayman is very popular in registration services for aircraft, as well as seagoing vessels.

The Cayman Islands Shipping Registry was established in 1903. Today the Register lists nearly 2,000 vessels, a figure which includes about 250 "new builds" still on the weighs, at shipyards around the globe.

CISR is currently in the process of launching an Asian initiative in an attempt to attract further business in that part of the world, where it has already met with considerable success. The addition of Singapore and Hong Kong representatives brings to nine the number of geographic locations where the CISR has a presence. The others are George Town, Grand Cayman, Headquarters; the European Regional Office in Southampton; London representation; Ft. Lauderdale, Fla.; Athens, Greece, and Tokyo. A Mediterranean office, established earlier this year, is currently being relocated.

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