|Isle of Man Ship Registry announces new office in Singapore|
|Tuesday, 01 May 2012 00:00|
As part of a concerted effort to engage more closely with Asian shipowners, the Isle of Man Government’s Department of Economic Development (which includes the Isle of Man ship registry) has announced the setting up of a representative office in Singapore.
The flag has made significant progress in attracting vessels from owners based in Singapore and the Asian region in the past few years and the flag’s director Dick Welsh says the new office is a natural move.
He said: "The Isle of Man ship registry has been building relationships with owners in Asia for many years now as we recognise the growth of the Asian merchant fleet."
In another move to boost its presence in Singapore, CC Lee has been appointed as Geoff Hutcheon’s successor in Singapore to provide survey cover and technical backup for the flag.
"The Isle of Man Ship Registry sees Singapore as a strategic location and is delighted to find the right candidate to cover this important hub for the Asia Pacific region. With Geoff now in Hong Kong and CC Lee in Singapore as well as surveyors in Manila and Shanghai we now have excellent coverage and are actively looking for the right candidate for Japan," said Dick Welsh.
The new office is part of the implementation of the Isle of Man Government’s Department of Economic Development’s country strategy and will also be a focal point for other businesses the Isle of Man Government wishes to promote.
The ship registry is a cornerstone industry for the island and the new office in Singapore will reflect that.
With its low cost structure and the fact that it appears on the White List of top ranking ship registries, the Isle of Man flag’s message is spreading.
It has already enjoyed considerable success in the region with six major ship management companies becoming clients in the past three years.
Since 2009, 20 vessels operated from Singapore have been registered under the Isle of Man flag, with three more due to be delivered before the end of 2012.
This fleet represents around 12% of the Isle of Man registered fleet with a total Gross Registered Tonnage (GRT) of 1.7 million.
Mr Welsh added: “I am very pleased the flag is working closely with our partners Cains, as they have been established in Singapore for three years now and have built a good track record in the business community.”
Mike Edwards, a director of Cains and the head of its office in Singapore, commented: “We are always happy to assist the Isle of Man Government with developing their activities in Asia and we were delighted to facilitate the office arrangement in Singapore. The Isle of Man Ship Registry has achieved impressive growth in the Asia Pacific region and the enhanced presence should result in further tonnage.”
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