Somalia has begun establishing a national ship registry through a MoU between the Ministry of Ports and a maritime service provider.
Somalia has taken the first official step towards establishing a national ship registry system. The process was officially initiated with a memorandum of understanding (MoU) signed between the Somali Ministry of Ports and Maritime and a maritime service provider.
A national registry system is being established.
Under the signed agreement, a new ship registry system will be created to register vessels operating under the Somali flag. The system will be structured in accordance with international maritime standards.
Institutional capacity in maritime affairs will increase.
With the new registry system, it is aimed to strengthen Somalia's institutional capacity in the maritime sector. Officials state that this step will enable the country to take a more effective role in maritime management.
Expectations for economic contribution and employment.
With the implementation of the project, it is aimed to increase ship registration revenues, create new job opportunities, and enhance Somalia's effectiveness in maritime trade.
Goal to compete in the global registry market.
According to experts, Somalia could reach a position to compete in the open registry market thanks to the new system. This situation could create a new option, especially for shipowners seeking different flag alternatives.
Source: SeaNews Türkiye
