Over 6,600 ships are registered in Malta under the Merchant Shipping Act, making the Maltese merchant fleet the seventh largest world-wide.

Speaking with the Malta Independent, the Transport Ministry said that Malta has established itself as one of the leading maritime hubs and service centres in the world.

With a fleet gross tonnage of 56.8 million tonnes including 450 super yachts over 24 metres in length, Transport Malta generates €13 million annually from registration services and other ancillary service related thereto. The payable fees are regulated by the 'Merchant Shipping Act - First Schedule'. "It is to be noted that this revenue does not include revenue generated by many private firms involved within the maritime industry," a Transport Ministry representative said.

Malta has developed a very strong regulatory platform that has enabled the Malta Flag to become a reputable and internationally recognised ship register, according to the representative. "Malta's ship register has grown not only in numbers but also in repute, and today, the country is increasingly adding high-class ships to its fleet. This is a result of the good quality of service that offers value for money, backed by various initiatives and strategies in favour of the industry offering a holistic packagethat is recognised by ship owners worldwide".

Registration under the Malta flag is a fast and straight-forward process, the representative explained. "It also offers the possibility of a 24/7 service available to guide ship owners, managers and captains through specific enquiries and challenges that might arise. The ship register is regulated by a framework of the highest standards based on international and European Union legislation".

"Malta is a party to the major international conventions on maritime safety, security, pollution prevention and maritime labour and has put in place robust mechanisms to ensure their effective implementation. National comprehensive and dynamic legislation is in place with respect to security, including a legal framework allowing and regulating the use of private armed security personnel on board Maltese ships," the representative added.