There were more vessels than ever
before registered to Cayman in 2010.
According to figures released by
Cayman Maritime, there were 1,870 vessels on the Register in 2010 compared to
1,815 in 2009. There was also an increase in gross registered tonnage from 3.7
million in 2009 to 3.9 million by the end of 2010.
There were 254 new vessels
registered in 2010 which is the second-best result ever after the 2008 high
point which had 275 new units listed. Cayman is the world leader in registering
super yachts and also has super tankers and cargo carriers in its fleet.
According to Cayman Maritime, which is the parent organisation of the Cayman
Registry, 85 per cent of registered vessels are private yachts and the rest are
commercial. There were 111 new build Cayman-flagged ships worldwide by the end
Super yacht forum
Cayman Maritime and Registry also
was represented at industry events such as the Monaco Yacht Show and Fort
Lauderdale International Boat Show, which are attended by tens of thousands of
maritime professionals and boat owners. Joel Walton, chief executive officer of
Cayman Maritime, said that interest is always high in the Cayman Registry.
“It is partly through the
relationships forged through these promotional initiatives that the Cayman
Registry has been able to achieve the status of global leader in the registration
“These are vitally important venues
for us to see and be seen in.”
There were also promotional
activities in Asia, which is seen as a growing market for the registry, which
also has representatives in Japan, Hong Kong and Singapore, a European Regional
Office in Southampton England as well as Fort Lauderdale, Monaco, Italy and
The organisation said that it also
shares its expertise and knowledge through sending representatives to a number
of annual technical meetings and conferences worldwide, such as the Global Superyacht
Forum and the Superyacht Design Symposium.
During 2010, Cayman Marine and
Registry were leaders in the new 13-36 Passenger Yacht Code, which was
developed to address difficulties in applying some of the international
convention standards to super yachts. The Code sets technical, safety and
operational standards for these yachts as the standards, such as the Safety of
Life at Sea Convention and Load Line Convention for example, were originally
designed for merchant ships. The 13-36 Passenger Yacht Code addresses
everything from construction and equipment to manning specifications and is
highly technical. It was drafted over several years in conjunction with the Red