Business in brief

Shipowners’ Advisory Council annual meeting 

The Cayman Islands Shipowners’ Advisory Council, which incorporates shipping company operators, managers, representatives, owners and internationally operated, Cayman-registered vessels totaling 4.33 million gross tons, held its 20th annual meeting on May 4.  

Speaking at the meeting, Wayne Panton, Minister of Financial Services, Commerce and Environment, underlined the significant strides being taken by the Cayman Islands Shipping Registry.  

“One of the areas that deserves significant attention is the international recognition that Cayman has earned in terms of its high quality service and technical excellence, including our ranking on the International Chamber of Shipping’s annual Flag State Performance Table, which has Cayman listed as one of the top 14 flags in the world.”  

Cayman’s safety and pollution prevention record, and the development of the Passenger Yacht Code were some of the issues discussed at the meeting.  

The development of a structured system of incentives to attract maritime service companies allowing for more efficient and cost-effective procedures to do business in Cayman was another important topic. 

At the third Cayman Islands Shipping Summit, which followed the annual meeting, Premier Alden McLaughlin announced the establishment of a Maritime Services Park operated by Cayman Enterprise City. 

Sackville Bank moves offices 

Sackville Bank announced that due to significant growth in business since commencing operations in 2014, the bank has moved to larger premises. Sackville Bank is still in the Grand Pavilion but now has its offices near the Snug Harbour Drive entrance.  

In other news, Julian Manderson has recently joined the team as an assistant trust officer.