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Bahamas ship registry ‘set to move up table’

The Bahamas is close to regaining its position as one of the world’s leading ship registers, ‘according to Syneisha Bootle, an associate at Nassau-based law firm Callenders & Co.

Back in the 1990s The Bahamas was the world’s fastest-growing registry and, at its peak, the third-largest. Since then it has slipped down the table, but comfortably remains among the top 10 ship registries.

Holding The Bahamas back is a need to enact legislation that will transform signatures on international treaties (such as the London Convention and Protocol) to become law as well as updating its long-established Marine Insurance Act.

Nevertheless, The Bahamas still has a list of blue chip shipowners using the local registry, including Chevron, Cunard Lines, Exxon International, Finnlines, Holland America Line Cruises, Lauritzen Reefers, Maersk Line, MSC, Smit International, Teekay Shipping and Texaco. The Bahamas has some 1,500 ships on its registry, while Panama, the world’s largest registry, has around 8,200 ships.