07 Mar Maritime Cook Islands sees record growth
Monday March 07, 2016 Published in Local
Maritime Cook Islands (MCI), the leading ship registry, registered an 11 per cent growth in the fleet last year with 201 new vessels, up from 184 in 2014.
The fleet grew from 473 vessels in 2014 to 525 vessels at the end of December.
In tonnage added terms in 2015, this is equal to 318,245 gross tons or a 21 per cent increase.
MCI’s latest figures show that 149 vessels were de-registered in 2015 and these were mainly yachts coming to the end of a three or five year registration.
It also included 20 SOLAS cargo vessels some of which were sold and changed flag but most of which went to scrap.
Just a handful of vessels changed flag under the same management and ownership as registered in the Cook Islands and this demonstrates that the vast majority of owners registering their vessels with MCI are happy with the service provided.
Said chief executive Glenn Armstrong: “I would like to congratulate everyone connected to the flag for a year which has seen promising growth and expansion.
“We intend to continue to invest in the quality of our service and this kind of growth is encouraging for us.
“It shows there is a place in world shipping for a niche, personal service flag like ours which aspires to the highest standards while keeping a personal touch.”
He pointed out that growth came from across the board and from a broad selection of deputy registrars but that special mention should be made of the deputy registrar in Turkey Cem Ertem and his team as well as TY Cheng and Hilda Loe in Singapore.
Glenn added there had been no major collapse in tonnage despite the difficult trading conditions MCI faced back in 2014 with the war in the Ukraine and general instability in the Middle East and Black Sea regions.