The UK Ship Register (UKSR) has expanded its ownership eligibility to allow more shipping companies to flag to the UK and take advantage of its 24/7 customer services and no annual flag tax.
The UK Flag is an International Register (not limited to nationally based companies) and the criteria have been widened beyond the current areas of the UK and Europe to include Commonwealth countries as well as a further 20 countries including China, USA, Japan, UAE, Marshall Islands and Liberia, in line with the other Red Ensign Group partners.
The UKSR has also introduced a system for bareboat charter-out, so that ships can temporarily reflag for the period of a charter-party before returning to the UK flag when that agreement ends.
The director of the UK Ship Register Richard Parkes said: “This change will now allow the UK flag to attract first class ships and owners who have their company based outside of the UK. They too will be able to benefit from exceptional service and a global reputation.”
Click here to read the full report.