ARTICLE
21 May 2020

Merchant Shipping Directorate Announces Shipowner Support Measures

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Fenech & Fenech Advocates

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Established in 1891, Fenech & Fenech Advocates is a multi-disciplinary full service law firm with diverse areas of expertise, including corporate and commercial law, M&A transactions, financial services, tax, immigration, banking, trusts and foundations, aviation, intellectual property, maritime law and marine litigation, yachting, employment law, environmental law and various other areas.
As the disruptive effects of Covid-19 continue to impact international shipping activities, the Malta Ship Registry continues to take unprecedented measures to assist the shipping industry through the current exceptional circumstances.
Malta Coronavirus (COVID-19)

As the disruptive effects of Covid-19 continue to impact international shipping activities, the Malta Ship Registry continues to take unprecedented measures to assist the shipping industry through the current exceptional circumstances. The latest measures take cognisance of the cashflow constraints affecting shipowners who have seen their shipping activities delayed or suspended with the aim of alleviating some of that exposure and shifting a portion of the burden upon the Registry.

The Registry, by means of Merchant Shipping Notice 160, is offering shipowners the possibility of deferring due payment of registration fees and annual tonnage tax, the anniversary date of which falls due on or after the first day of April 2020.  The deferment may be made for a period of three months, during which period the Registry will continue to issue renewed certificates of registry upon receipt of a request to proceed.

The Malta Ship Registry continues to monitor the international situation and adapt new and updated measures in conjunction with the concerns of shipowners and other stakeholders alike.

A copy of the notice issued by Transport Malta can be viewed here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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