Monaco attracts international shipowners and investors, expanding its maritime sector as financial hubs like London lose their appeal.
Monaco, one of Europe's significant maritime centers, is strengthening its position in the sector with the increasing interest of international shipowners, ship operators, and maritime investors. Recently, investors relocating to Monaco from various financial centers, particularly London, are expanding the number of maritime companies in the country and the scope of sectoral activities.
According to international maritime publications, Monaco is attracting attention not only for yachting activities but also for companies in commercial ship operation, tanker transportation, dry bulk, maritime finance, and ship management.
New investors are moving from London to Monaco.
One of the prominent figures heading to Monaco is Norwegian maritime and offshore investor Tor Olav Trøim. As Trøim relocates from London to Monaco in 2025, he has decided to move his commercial operations and team under Magni Partners to this location, according to the Norwegian economic newspaper Finansavisen.
David Reuben, a leading figure in the British maritime, real estate, and investment sectors, has also joined the ranks of investors moving to Monaco. Having expanded his business, which began in metal trading with his brother Simon Reuben, into maritime, real estate, and private equity investments, Reuben's new address is Monaco.
These developments indicate that Monaco is becoming an increasingly important center for international maritime capital.
Leading shipowning companies in Monaco.
Monaco has long hosted the headquarters of international maritime companies.
Scorpio, managed by Emanuele Lauro, Eyal Ofer's Ofer Global company, and C Transport Maritime, chaired by John Michael Radziwill, are among the significant maritime organizations in the country.
C Transport Maritime has taken on the commercial management of approximately 120 dry bulk vessels at different times. The company's activities are particularly concentrated in the Supramax, Panamax, and Capesize segments.
Other companies operating in Monaco include d'Amico Tankers Monaco, Hafnia, Celsius Management, Marfin Management, International Andromeda Shipping, Fratelli Cosulich Monaco, INEOS Monaco, and Sea World Management.
The activities of these companies ensure that Monaco serves as an important management and decision-making center on an international scale for tanker, gas, and dry bulk transportation.
The number of maritime companies has reached 51.
The Monaco Chamber of Shipping began operations in 2006 with seven founding members. The number of member companies rose to 20 in 2007 and to 24 in 2008.
According to the Chamber's current data, there are now 51 maritime companies based in Monaco. The number of employees working in international maritime businesses in the country exceeds 1,000.
Within the Chamber of Shipping, there are not only shipowners and ship operators but also ship chartering companies, brokers, insurance organizations, law firms, and entities operating in accounting and maritime finance.
This structure allows for the consolidation of complementary maritime services in the same center within the country.
Tax advantages and political stability stand out.
Tax regulations are considered an important factor in Monaco's preference among international investors.
The planned abolition of the non-dom regime in April 2025, which has long provided certain tax advantages to wealthy individuals residing in the UK but having overseas connections, is cited as one of the developments influencing international investors' residency decisions.
However, the growth of Monaco's maritime sector cannot be explained solely by tax conditions.
Political stability, proximity to France and Italy, transportation opportunities provided through Nice International Airport, and an internationally qualified workforce constitute other prominent advantages of the country.
Conversely, the limited office space, high housing prices, and personnel costs are among the main challenges for companies wishing to operate in Monaco.
Decision-makers in the maritime sector are centralized.
Sébastien Knecht de Massy, President of the Monaco Chamber of Shipping and an executive at INEOS, stated that one of the most significant advantages of the country's maritime sector is the proximity of international companies and decision-makers to one another.
According to Knecht de Massy, it is possible to reach important shipowners and executives who have a say in the management of tanker, gas, cruise, and dry bulk fleets within a few hundred meters.
This concentration facilitates the development of business relationships among shipowners, investors, financial institutions, and service providers.
The maritime world will meet in Monaco on October 27.
Monaco's position in the international maritime sector will again be highlighted at the Maritime CEO Forum, scheduled for October 27, 2026.
The sixth edition of the event, to be held at the Yacht Club de Monaco, will address the future of global maritime markets, tanker and dry bulk transportation, ship financing, new regulations, and investment trends in the sector.
Participants expected at the forum include John Michael Radziwill, Chairman of C Transport Maritime, Cesare d'Amico, an executive at d'Amico, Svein Moxnes Harfjeld, CEO of DHT, Christoph Toepfer, CEO of Borealis Maritime, as well as representatives from JP Morgan, V.Group, Star Bulk, and International Andromeda.
The invitation-only event will once again showcase Monaco's role in fostering relationships among international maritime companies and investors.
Source: SeaNews Türkiye
