THE ISLE OF MAN SHIP REGISTRY IS INVESTING HEAVILY IN ITS FUTURE WITH NEW AND INNOVATIVE TECHNOLOGY AND BY EXPANDING ITS SURVEY DEPARTMENT IN THE MEDITERRANEAN
At the Isle of Man Ship Registry, we consider ourselves to be the world’s leading ship and yacht registry, and we have the accolades to prove it. 2019 has been a year of unprecedented success, beginning with the prestigious ‘Best Shipping Registry’ award from World Commerce Review, which was followed by top place in the all-important Paris MoU White List.
We currently flag over 130 superyachts including some of the most prestigious in the world and are the 14th largest flag state in the world by tonnage.
The secret to our success has been putting our clients first through investment in our systems and people, and our pragmatic approach to regulation.
For instance, we’ve invested in our survey department so that we now have flag state surveyors based in key yachting hubs including Palma de Mallorca and the South of France. This has allowed us to cut down on the travel costs charged to our clients and to be more responsive to our client’s survey needs, particularly at short notice.
Our systems have also seen significant development to introduce new functionality demanded by our clients. We have introduced an online finance system to allow our clients to keep on top of their accounts with the ability to view and pay invoices online.
Secondly, we are leading the digital revolution of yachting by doing away with paper certificates. We are one of the few flag states in the world with the ability to issue our certification digitally which means original certificates can be on board in a matter of minutes. Attempting to co-ordinate courier deliveries with a busy cruising schedule is now a thing of the past!
2019 has been a significant year for regulation because it has seen the introduction of the Red Ensign Group Yacht Code (‘REG YC’) which follows on from ‘LY3’. Like its predecessor, the REG YC is an IMO recognised equivalence to the SOLAS, STCW and Loadline Conventions. The team drafting the REG YC drew on the combined expertise of the Red Ensign Group, with key input from senior policy and survey staff at the Isle of Man Ship Registry. A key aim of the REG YC was to write in greater flexibility so that designers and naval architects have greater freedom to accommodate the client’s wishes.
We have in-house policy and survey teams who are easily accessible and on hand to offer pragmatic guidance on how to apply the REG YC to commercial yachts. Our teams are committed to working with owners, yards and captains to find practical solutions to complex regulatory problems. We are also on hand to offer regulatory advice to private yachts, where the application of various regulations can be unclear and vary greatly from one flag state to another.
We know that yachting is an industry which never sleeps, so our registry department offers a 24/7 service (by pre-arrangement) for new registrations that are made outside of normal office hours, which is completely free of charge. Once we have received all the documents necessary, full registration can be completed in a matter of minutes.