CimbriaTMS Awards 2023Bühler GmbHViganPort of South LouisianaTOC Europe 2023
  • Telestack
  • TOC Europe 2023
  • TOC Africa 2023
  • Coaltrans Asia 2023
  • Port of South Louisiana
  • Van Aalst

IOMSR expands Greek fleet with four bulk carriers

IOMSR expands Greek fleet with four bulk carriers

(Posted on 18/05/22)

The Isle of Man Ship Registry is expanding its Greek fleet with an agreement to flag four bulk carriers with Enterprises Shipping & Trading (EST).

EST is IOMSR’s oldest and largest Greek client, and the latest additions bring the total number of its vessels registered on the Isle of Man to 28 – 13 Bulk Carriers and 15 Oil Tankers.

The newly flagged bulk carriers are MAGIC STRIKER, DYNAMIC STRIKER AND VIRTUOUS STRIKER, all 33,044 tonnes, and the 51,195-tonne HELVETIA ONE.

A growing number of Greek shipowners are choosing the Isle of Man flag, supported by the IOMSR Athens based Greece representative Konstantinos Machairas.

The IOMSR’s director Cameron Mitchell said: “We are delighted to expand our fleet and continue a valued relationship with Enterprises, which is our longest serving and biggest client in Greece.

“We hugely value the Greek market and continue to look to build strong new partnerships and business developments. We’re looking forward to Posidonia and the conversations that will bring.

“There is a lot of respect among tanker and bulk carrier owners for the quality and history associated with the Red Ensign in Greece, allied with the Royal Navy protecting its ships anywhere in the world.

“Owners want a flag that they can rely on particularly for the speed of technical support. That is something the Isle of Man is well known for; whenever and wherever there is a defect or issue with port state control the IOMSR team reacts immediately.”

He added: “The registry can offer Greek clients British standards and an easy, efficient and competitive service.

“This includes low fees, with one annual payment and no stealth charges, whereas some open registries charge for almost all additional services.

“There is no annual tonnage tax based on size of ship, no inspection fee, no consular fee, no casualty investigation fees and we offer a discount for multi ship fleets as well as fee incentives for environmentally friendly ships.

“We continue to develop and lead. We were one of the first flag states to offer digital certificates. We were also the first flag state to launch a seafarer welfare app to support seafarers’ mental health, which we know is a huge concern to ship owners.”

In another industry leading development, in April 2022 IOMSR become one of the first flag states in the world to reduce registration fees for ships deploying green technology.

Announcing the move, Mr Mitchell, said: “If you are a shipping line making steps towards hitting IMO Greenhouse Gas (GHG) emissions targets, the Isle of Man flag will reward you. We want to welcome more new, greener ships to our fleet.”

The new measure gives ship owners a 15 per cent reduction on their annual registration fee. The reduced fee is available to operators of cargo ships, commercial yachts or passenger ships which are investing in biofuel, alternative fuels, wind, or shore-side energy technology.

The move to offer immediate financial incentives for green technology ships follows on from the IOMSR becoming the first flag state to join the ‘Getting to Zero Coalition’ in 2020. The Coalition’s core aim is to hit the IMO’s 2050 target to develop commercially viable, deep-sea zero-emission vessels by 2030.

The IOMSR is one of the world’s leading flag states and is ranked 17 in the world by Clarkson’s with more than 320 ships and 14m GT under its flag. The registry has held top spot on the Paris MoU Port State Control whitelist and is firmly on the whitelist in the Tokyo MoU rankings. It is also one of the high-performing flags on the US Coast Guard’s Qualship 21 scheme.

The registry is headquartered in Douglas on the Isle of Man, a self-governing British Crown dependency and is a Category One member of the Red Ensign group.

Latest News

NorthStandard identifies future path of P&I as it realizes early consolidation gains

(Posted on 19/09/23)

Seven months after its formal launch, NorthStandard is already realizing tangible benefits from combining... Read more


Core Power adds US heavyweights to Global Advisory Board

(Posted on 12/09/23)

Maritime nuclear technology company CORE POWER has boosted its Global Advisory Board with four new high... Read more


Foreship makes further commitment to growth in the UK

(Posted on 12/09/23)

Foreship has relocated its UK subsidiary to larger premises and appointed Tuur Killaars as Senior Sustainability... Read more


DNV and PCL to expand collaboration in ESG and key operational areas

(Posted on 08/09/23)

Classification society DNV has signed a Memorandum of Understanding (MoU) with Singapore-based ship... Read more


ISG partnership with MLS to enhance training for maritime sector

(Posted on 08/09/23)

Leading blended learning provider Intelligent Seas Group (ISG) is delighted to announce its collaboration... Read more


Panama Canal water levels to remain exceptionally low for months

(Posted on 04/09/23)

Record year-on-year declines in rainfall has been identified as the ‘likely culprit’ for... Read more


Change in MENAS Light Dues to ensure future of Aids to Navigation

(Posted on 04/09/23)

After years of keeping a vital navigation service operating on the same income, Middle East Navigation... Read more


Leading bulk shipping companies demonstrate collaboration is key to success

(Posted on 28/08/23)

Torvald Klaveness and Lauritzen Bulkers, leading global dry bulk shipping companies, have announced... Read more


OSM Thome and Pherousa Green Shipping collaborate on ultramax project

(Posted on 28/08/23)

Norwegian companies OSM Thome and Pherousa Green Shipping AS (referred to as "PGS") have entered into... Read more


Delivery of modern capesize bulker adds capacity for Tomini

(Posted on 18/08/23)

Tomini Shipping, a world class dry bulk ship owner, has reached yet another milestone in their expansion... Read more


TOC Africa 2023Van AalstPort of StocktonTBA GroupTelestackSailors Society
  • TBA Group
  • Sailors Society
  • Bühler GmbH
  • Port of Stockton
  • IMPA Events
  • TMS Awards 2023

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping