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ARTICLE · 19 JANUARY 2017

Bermuda Ship Registry Receives ‘Favoured' Status from China

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On 16 January, it was announced that Bermuda's ship registry had been granted ‘Most Favoured Nation' status from China.

BermudaCorporate/Commercial Law
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On 16 January, it was announced that Bermuda's ship registry had been granted 'Most Favoured Nation' status from China.

Bermuda received the status as part of an existing UK/China agreement, which will offer several advantages to the Island's maritime industry.

The Bermuda Government has worked over the past several months to coordinate the agreement. Bermuda-registered vessels that are trading into Chinese ports will benefit from reduced fees associated to conducting business in the region, allowing them to be more competitive on a global scale. In addition, this allows the jurisdiction to retain vessels that may have been looking to domicile in other regions, as well as attract new business to the area.

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