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SA's incentive for shipping register

South Africa is planning to introduce incentives and a new regulatory framework that will make the country attractive for shipping companies to register their vessels under the South African flag, according to the South African Maritime Safety Authority (Samsa).

27 Sep 2011

Business Day quotes Samsa's director Sobantu Tilayi, as saying that South Africa's laws affecting the shipping industry are currently less attractive than those in other countries. For this reason, he says, South Africa intends changing its regulatory framework to encourage shipping companies to register their ships here and open local offices.

Samsa is leading the Maritime Economy Development Cluster, an inter-governmental team that includes the Departments of Trade and Industry, Public Enterprises, Mining, Justice, Transport and Finance.

Tilayi points out that in the 1970s there were 50 ships on South Africa's shipping register but now the country has none. The last ship, Safmarine's Oranje was deregistered in January.

Read the full article on www.businessday.co.za.
Read the South African Maritime Safety Authority's Policy and Regulatory Guidelines.