With effect from 1st October 2016, the governmental departments
responsible for the oversight of the aviation and shipping sectors
became "quangos" newly titled as the Bermuda Civil
Aviation Authority and the Bermuda Shipping and Maritime
The aim of granting such status is to boost revenue from the
registration of both vessels and aircraft, by making Bermuda more
competitive in the global shipping and aviation markets.
On the shipping front, the Bermuda Government stated that its
intention is "to create an efficient, competitive and
economically viable shipping registry that can meet the modern-day
customer demands as well as the relevant national and international
standards." Bermuda presently commands a fleet of 170 ships
with more than 13 million gross tones, which, compared to other
international registries, is rather small, which provides the new
Authority with a great opportunity for expansion in the line with
the anticipated future growth in the shipping sector.
Bermuda's Aircraft Registry already ranks 10th in size of
the 191 signatory States to the Convention on International Civil
Aviation. The current Registry includes a mix of both private
aircraft and commercial aircraft. With a wealth of experience and
credibility in the global aviation industry, combined with
unparalleled personal and responsive customer service, the new
Authority looks to be well positioned, by capitalising on new
markets which are opening up, and by the implementation of
international standards set out in the soon to be enacted Cape Town
Convention legislation, to further increase its market share.
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With 330m dwt on its books, Panama remains the most popular register with a lead of 126m dwt over second placed Liberia at 204m dwt.
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