Transport Malta flies the flag at Monaco Yacht Show

Malta’s increasing presence in worldwide superyacht registration was recognised with Transport Malta’s participation at the Monaco Yacht Show some days ago.

Manning a booth branded ‘Maritime Malta’, authority officials provided maritime and industry service providers and intermediaries with the ideal promotional platform to showcase the island as an international maritime service centre.

TM’s participation at the event – now in its third year – is one of the initiatives taken by the Authority to consolidate its efforts to attract superyachts to the Malta register which now represents an important market share of more than five per cent of the world’s superyacht fleet.

This success was acknowledged by the Financial Times, with an article in its Yachting and Marinas supplement in September, describing Malta as a popular jurisdiction for the registration of superyachts, highly regarded as friendly and efficient.

The Maltese delegation, led by Transport Malta chief executive Stanley Portelli gave technical presentations during parallel events organised by the Professional Yachting Association and the Monaco Yacht Club.

This year’s participation was marked by the signing of a Memorandum of Understanding with the PYA aimed at creating better opportunities for a more active role for the authority within the industry.

Dr Portelli said Malta’s strategy to develop further as an international yachting service centre is best enhanced by structured cooperation and active involvement of all stakeholders.

PYA president Andrew Schofield said the MoU was an important step towards further co-operation between the two organisations and the industry in general. The agreement aims to support initiatives to promote crew training and the establishment of a Malta branch of the PYA for better representation for Maltese crew and crew on Malta-registered superyachts.