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Golden time for Malta’s maritime industry

Isaac Sammut  -  7/July/2022

With the recent and historic accomplishment for the Maltese flag receiving a high rank by the United States Coast Guard (USCG), there has never been a better time to discuss the future of Malta’s yachting industry.

KSi Malta has proudly attended the Malta Superyacht Symposium organised by the Malta Chamber and the Malta Maritime Law Association. The symposium addressed multiple facets related to Malta’s potential as a centre for superyacht refits, Malta as the ideal destination for superyachts, the regulatory element of such an industry, and the challenges the industry is facing in terms of workforce and attracting younger generations.

The ultimate aim of the symposium was to enable discussions amongst key experts and stakeholders in the industry, together with high-level government officials and members of parliament, to consequently be able to shape a future strategy for the superyacht industry in Malta and continue consolidating Malta’s position as a leading yachting jurisdiction.

With Malta recording a 51% increase in registrations of superyachts larger than 24 metres, Malta currently boasts over 1000 registered Superyachts making it one of the leaders in this sector. Such a stat coupled with Malta’s beautiful marinas, Malta’s thriving reputation, its efficient ship registry, and the convenience of ship repair yards, has truly consolidated Malta’s position as one-stop shop in the maritime industry.

Whilst more concerted efforts are required from all stakeholders to continue building on Malta’s attractiveness and refining its luxury offerings, KSi Malta applauds the efforts by both industry stakeholders and government in providing the necessary impetus to recognise the yachting sector for what it truly is and for what it contributes to the Maltese economy. In fact, it was extremely gratifying to hear the Minister for Transport, Infrastructure and Capital Projects announce that a new national yachting policy will be launched later this year.

For any advisory services pertaining to yacht registration in Malta and ancillary services, feel free to reach out to Mr Dennis Mark Gauci, Partner at KSi Malta on dmgauci@ksimalta.com and Mr Isaac Sammut, Business Development Manager, on isammut@ksimalta.com

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