Following endorsement from the UK Department for Transport, from January 2013, Jersey's Shipping Register will be able to register commercial yachts up to 400 tons.
Currently the island's Category 2 Registry can register pleasure yachts up to 400 tons. Smaller registries can currently take on commercial ships only up to 150 tons. This endorsement will allow the Jersey registry to administer larger craft, which the market now demands.
This agreement, made at the recent Red Ensign Conference held in the Isle of Man, will help to further develop the Island's Registry. It currently has 2000 vessels registered, with 176 new vessels coming onto the books in the last year alone, equating to over £100 million in assets.
Senator Alan Maclean, Minister for Economic Development, said “We can be very pleased with this progress. We took a strong delegation to the Conference and came back with very positive results. I think the whole shipping industry in Jersey will benefit especially from the opportunity to register commercial superyachts.”
The annual conference brings together 13 Crown Dependencies and UK Overseas Territories which are all entitled to register vessels under the Red Ensign.