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IoM Consults On Ship Registry Changes

by Jason Gorringe, Lowtax.net, London
23 September, 2016

The Isle of Man Ship Registry is consulting stakeholders on major changes to the structure of its operating models and fees.

In particular, the Registry said the fees charged will be simplified to provide a more competitive and predictable fee structure, with the intention of providing owners with simple and easy comparisons against other competing flag states.

In addition, the proposed changes will provide full delegation of statutory surveys and inspections to Classification Societies, which establish and maintain technical standards for the construction and operation of ships and offshore structures.

A one-off fee will replace the two current fee options of standard fees and alternative fees for surveys. This will spread the cost of registry and surveys with a simple annual payment. Included in this fee will be the surveyor's flight and travel costs for which there will be no extra charge, wherever the inspection is carried out in the world. Additional costs for services such as new registrations, registry fees, seafarers' documents, preregistry surveys, and Port State Control detention follow-up inspections will remain and will apply as and when they are ordered by clients.

Dick Welsh, Director of the Isle of Man Ship Registry, commented: "This is a change we have been planning for some time. It is the game-changing final step in the delegation to Recognized Organizations, which will place the Isle of Man in a more competitive position whilst improving the service levels for which it is renowned."

Interested parties are invited to comment on the proposals by October 31, 2016.

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