MAR with record levels of growth

MAR - The International Shipping Register of Madeira was the fastest growing European maritime register in the first semester of 2014 in result of the record number of new registrations.

This is an extremely positive indicator, following the results already achieved in late 2013 and in the first quarter of 2014 and confirms the fundamental contribution of MAR for Portugal’s position within the international maritime sector, helping the country to regain relevance in the international maritime organizations such as the IMO.

The final results from the first half of 2014 also show a few additional aspects worth pointing out:

In total, on the 30th of June 2014, there were 302 vessels registered in MAR comprising commercial ships and private and commercial yachts. These figures represent an increase of 30 vessels in relation to the first quarter of 2014 when MAR reached the highest number of registrations since its creation, with 272 vessels.

It is particularly relevant to note the 30% increase on the number of commercial ships registered in MAR in relation to the same period last year. In fact, on the 30th of June 2013, there were 155 commercial ships registered in Madeira’s register which have now increased to 200.

The increase in the number of vessels and quality of the fleet, as well as the growth of the gross tonnage and the decrease of the average age (to 14 years), are also a reflection of MAR’s potential to foster the number of vessels under the Portuguese flag.

The growth of the gross tonnage under MAR is also significant from 1.653.620 GT on the 30 of June 2013 to 3.472.826 GT a year later, an increase of 110%.

The majority of the vessels registered in MAR are of European origin, from countries with a very strong maritime tradition. In fact, at the end of June, the German market represented about 46% of all vessels registered, the Italian market represented 20% and the Spanish market represented 11%.

MAR’s sustained growth has been fostered by the intense promotional activity carried out in key markets by S.DM. on its role as the concessionaire of the Register.

As part of that effort, S.D.M. has recently set up a strategic partnership with EUROMAR - EU Registry, a German owned company with large experience in the maritime sector, which, in addition to reinforcing the promotion of MAR, has also contributed to an increased competitiveness and efficiency of the services provided by the Register.