Malta holds the largest superyachts register in the world

Reference Number: PR202364, Press Release Issue Date: Nov 24, 2020
 
During a press conference announcing advancements made by Malta’s maritime sector, Minister for Transport, Infrastructure and Capital Projects Ian Borg stated that Malta holds the largest superyachts register in the world.

Minister Ian Borg said that, “With quality, reputation and confidence, which I think are the three most suited adjectives to describe Malta’s merchant shipping register, we are here today to announce more positive results and achievements. As a united government, we are committed to keep on building on what has been achieved by now. During last year, the government kept on stressing his policy with regards to strengthening the Maltese register and bring further quality operators to the services offered by Malta. This could only be possible due to the proactivity of the Maltese register in a dynamic industry with a large number of international competitors.”

Malta registered a surplus of more than 7% from the end of 2019, with an increased register of 850 yachts of more than 24 metres. This means a surplus of 50% during these last five years.

A revised Code for commercially available luxury yachts was also announced at the conference. This further showed the proactive and dynamic traits of the Maltese register and furthermore showcased the possibility to attract more yachts. The revised Code includes standards for larger yachts, efficiency with regards to emissions, and also the concept of green yachts. In this way, Malta will set a high standard and incentivise yachts that are more environmentally friendly.

A consultation process, regarding the new Code, coined as the Passenger Yacht Code was announced – one which will provide means to attract new superyacht markets to Malta. By time, these types of yachts are getting larger in size, and therefore a dialogue with the industry took place which provided a stage to allow for new opportunities and achievements as a result of this new Code.

“That is why after a wide consultation, today we are pleased to announce that a number of courses have been developed for the yacht industry both locally and internationally. In this way we will continue to make Malta a centre of excellence in terms of maritime training for such an important industry”, said Minister Ian Borg. 

For the first time, Malta will offer specific courses which will give rise to new opportunities for Maltese youths which work in the superyachts sector and which will further offer more valuable jobs for future generations.

Minister Ian Borg concluded the press conference by giving thanks to all officials and employees of the Merchant Shipping Directorate and stating that these achievements could not be possible if it were not for the sacrifices made. He also affirmed that government is committed to keep building on this chain of successes for the common good of all Maltese and Gozitans.

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