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IoM Registry Employs External Auditors As Tonnage Soars

by Jason Gorringe, Tax-News.com. London

02 July 2012


The Isle of Man (IoM) Shipping Registry has announced the appointment of several external surveyors to manage overseas audits and inspections following a marked increase in the number and geographical spread of vessels registered under the Manx ensign.

The addition of new surveyors has been achieved through a contractual agreement between the Registry and Idwal Marine Service, an independent inspection service with global coverage. Each of the appointees has received full training as an Isle of Man surveyor, and will carry out checks in relation to the International Safety Management and International Ship and Port Facility Security Codes and audits to ensure compliance with rules set by the International Labour Organization.

External surveyors are being strategically placed worldwide to ensure that audits and inspections can be carried out in a timely manner. Surveyors will be located in: Rio de Janeiro, Brazil; the Isle of Man; Aberdeen, Scotland; Hamburg, Germany; Nice, France; Singapore; Manila, the Philippines; and Hong Kong and Shanghai, China.

Arrangements for audits will continue to be arranged through the Isle of Man Shipping Registry.

In 2010, 139 vessels were added to the register, increasing the gross registered tonnage (GRT) by almost 15% (1.6m GRT). Manx fleet tonnage surpassed 12m GRT during the year, smashing the year’s target for tonnage growth of 3%. The Registry grew by a further 12% in 2011, from 12.36m GRT at the start of the year to 13.84m GRT.

TAGS: marine

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