Malta had almost 1,000 superyachts under the Maltese flag by the end of 2021, an increase of 16 per cent over December 2020.

During a press conference at the Malta Maritime Museum in Birgu, Minister for Transport, Infrastructure and Capital Projects Ian Borg announced that Malta had almost doubled its registered tonnage over the past nine years.

In 2012, Minister Borg said, just over 45 million tonnes were registered in Malta, which had risen to 86 million tonnes by the end of 2020. By the end of 2021, the number of vessels registered under the Merchant Shipping Act was almost 9,300 vessels, amounting to more than 86.1 million in tonnage and representing an increase of 2.2 per cent.

“From this activity alone, Transport Malta generated €24 million over the past year. This means an increase of more than 82 per cent over 2012, and also means that just over 6 per cent of the world’s merchant ship fleet is registered under the Maltese flag. We are continuing to move this sector forward not only in terms of the register, in which our country has achieved very positive results, but also in terms of technology,” he said, adding that the maritime sector remained an integral part of the Maltese economy.

Minister Borg also announced an investment of €6.5 million for the country to implement a digital system in the field of maritime affairs.

“The Merchant Shipping Directorate has already implemented the first digital project which will be digitising the application process of more than 100,000 seafarers by electronic means. This will result in greater efficiency in the processing of these applications,” he said.

Meanwhile, the Maltese flag has maintained its position as the largest merchant register in Europe and the sixth-largest in the world.

Related

email inbox

Malta’s workers lose almost an hour of work per day answering emails, three times the EU average

February 6, 2023
by Arnas Lasys

Workers in Luxemburg only spend two minutes per day on emails

What investors need to know about licensing, support and incentives in Malta

February 6, 2023
by Robert Fenech

Licensing in Malta operates on a sector-specific basis via semi-autonomous authorities led by professional staff

‘It’s cheaper to kill someone than to injure them’ – lawyers speak out on workplace accident compensation

February 3, 2023
by Robert Fenech

It remains unclear whether insurance companies would benefit from additional certainty or balk at increased payouts