Vessels exiting British register ahead of Brexit

Amid concern over a hard Brexit and generally the prospect of Britain being outside the EU, its shipping sector seems to face repercussions already.

It is noteworthy that according to Clarkson Research Services the British register declined from 19th place in August to 21st in September and for first time is no longer included in the top 20.

In addition, the British Register has 956 registered ships of a total capacity of 10.6 million gt, when at the beginning of the year the corresponding tonnage of registered vessels reached 16.1 million gt.

According to reports, colossal companies are changing flags on their ships, “abandoning” the British register in fear of Brexit.

For example, the French CMA CGM, had about 49 ships under the British flag, before the UK referendum on Britain’s stay in the EU in 2016. Now, in the face of anticipated developments, the company has decided to change flags to all 49 ships, raising the flags of other European countries, such as France and Malta.

Also, Wallenius Wilhelmsen, at the end October 2018, changed flag on some of its ships and choose the Maltese. Even P&O Ferries of British interests decided last January to register its entire fleet in the Cyprus registry. Until then, they had been registered in the British Registry.