On 16 January, it was announced that Bermuda's ship registry
had been granted 'Most Favoured Nation' status from
Bermuda received the status as part of an existing UK/China
agreement, which will offer several advantages to the Island's
The Bermuda Government has worked over the past several months
to coordinate the agreement. Bermuda-registered vessels that are
trading into Chinese ports will benefit from reduced fees
associated to conducting business in the region, allowing them to
be more competitive on a global scale. In addition, this allows the
jurisdiction to retain vessels that may have been looking to
domicile in other regions, as well as attract new business to the
This news comes on the heels of another record-setting year for
Bermuda's ship registry which saw 35 vessel registrations in
Further, Bermuda's ship registry became a non-governmental
organization or "quango" last year and was renamed as the
Bermuda Shipping and Maritime Authority. This new operational
status enhances the registry, giving it the necessary independence
to invest in order to provide better service to the owners of
Bermuda-registered ships and yachts.
All of these efforts/enhancements work collectively to promote
Bermuda as a choice domicile for maritime operations, globally.
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