2. July 2015

3. Why Isle of Man? Low Cost High Quality Great Service
A quality flag which matches client’s expectations
A centre of maritime excellence
Building lasting relationships
Providing the ideal solution
Putting the client first

4. Isle of Man offers support
Full Isle of Man Government support for shipping
The right to fly the "Red Ensign" and access the support of British consular services world-wide
Technical support and information provision for new conventions and regulations e.g. ILO MLC & BWM Convention

5. Isle of Man offers lower risk
The Isle of Man Ship Register is high quality and one of the world’s best:
Paris MOU White List and ‘low risk’ status
Tokyo MOU White List and ‘low risk’ status
USCG Qualship 21
Top of Industry’s Flag State Performance Table
Less scrutiny of Isle of Man ships in ports around the world

6. Isle of Man is business friendly
Easy for shipyards – No change to standard specification used e.g. for Panama
Pragmatic approach to regulation
Strong focus on customer service and relationship building
Parallel registration (demise-in or demise-out) available
Crew matters - simple & speedy STCW endorsements.
In-house technical expertise , advice, and assistance.
Registry at out-of-hours times to suit shipyard delivery
24/7 assistance guaranteed

7. Isle of Man offers value
Keeping costs low by charging:
no tonnage dues
no annual inspection fees
no consular fees
no casualty investigation fees
High quality register with the prestige this brings
Discount scheme for multi-ship fleets registered (up to 25%)
Non-profit making maritime administration funded by government
Annual registry fee £1625 per year (approx. USD $2,500)
Block fee scheme available for survey and audit fees
‘Green ship’ incentive - fee reduction for eco-friendly ships

8. Growth of Register
Number of vessels

9. Tonnage Growth in GRT(m)

10. Fleet by type (merchant ships)

11. Registry Statistics as at 30 June 2015
Merchant Ships >500GRT
Merchant Ships >500GRT (Demise-in)
Commercial Yacht >24m
Pleasure Yacht
Small Ships (local vessels <24m) 126
Fishing Vessels
Total
Total Gross Registered Tonnage million
Average Age years
500

12. Competition – Top 20 flags by GRT(m)
Source: Clarkson Research Services

14. Cost comparison over 5 years
5 year Registry costs in USD

15. Denotes - Isle of Man office
Clients include:

16. Class Societies:
Pilot Approval Project in process

17. Ownership Ship Ownership structures are accepted from :
EU/EEA countries
UK Territories
British Commonwealth countries
Australia, Bahamas, Canada, China, Hong Kong, India, Japan, Monaco, New Zealand, Pakistan, Russia, Singapore, South Africa, Switzerland, United Arab Emirates, USA
Panama, Liberia, Marshall Islands

18. Crew matters STCW endorsements Manning ILO/ITF
Issued from the Isle of Man
Extensive list of accepted countries
Simple and speedy process
90% issued within 5 working days
Manning
Flexible manning requirements
Safe Manning documents issued
ILO/ITF
Recognised by Shipping Unions (not FOC)
Crew complaints procedure direct to Flag

19. Survey coverage – Isle of Man surveyors

20. LRIT - Global Fleet

21. Developments in Asia Business Development Manager (Asia)
Capt Raja Ray
Director
Ray Marine Services
Over 40% tonnage from Asia
Agents in Tokyo - Mitsui-Soko
Growing presence for surveys:
Singapore; Manila; Hong Kong; Shanghai
KR Class – pilot project for Approval
Tax agreements - Singapore; Japan; China and India

22. The Isle of Man Secure and stable Government Financially secure
Preferred flag by banks and insurers
Located in Europe but not EU member state
Tax friendly – OECD white listed
0% corporate tax
British Isles but NOT part of UK
Independent of UK for Tax matters
VAT linked with UK
Shipping centre with maritime tradition

23. Economic Benefit Centre of excellence providing:
Ship Management
Crew Management
Yacht Management
Commercial management
Private Client Services
Insurance
Fiduciary & Corporate Services
Ship Finance
Legal Services
Chartering and commercial operations
Representative Services for Manx registered ships
Local maritime sector:
580 Employees
Average Salary > £45K
Local spend (excl. Salaries) > £70m

24. C.Eng; F.I.MarEST; M.I.Mech.E; MIoD
Dick Welsh
C.Eng; F.I.MarEST; M.I.Mech.E; MIoD
Director
St. George’s Court
Upper Church Street
Douglas
Isle of Man
IM1 1EX
BRITISH ISLES
Tel: (0)
Mob: +44 (0)