NEWS RELEASE Shipowners From Cayman Register Form Advisory Council

The first meeting of the Cayman Islands Shipowners' Advisory Council is being held in Grand Cayman on 25 & 26 April. The council was established following a government initiative to form a closer working relationship with the shipowners and managers whose ships are registered under the Cayman flag.

At a press briefing before the council's first meeting on Thursday, Deputy Financial Secretary Joel Walton explained that while the Shipping Consultative Committee is already being used as a local forum for the industry, the advisory council will take the consultative process a step further.

"Government has open consultation with other sectors of the financial services industry, and this council will give us the opportunity to engage in similar consultation with shipowners on the Cayman Islands Ship Register," he added.