Shipping 2023: Trends And Developments

Introduction

Portugal is consistently growing as a reliable and modern flag state. The number of vessels flying the Portuguese flag continues to grow every year and the outlook is that this trend will remain. Through the International Shipping Register of Madeira (MAR), Portugal reached a prominent place within the shipping industry at a worldwide level. As a European flag state, Portugal offers confidence and consistency, while embracing a competitive operational regime.

Furthermore, through the Madeira International Business Centre (MIBC), Portugal offers a set of tax advantages that, when combined with those of MAR, embody a very attractive framework for ship-owners who wish to conduct business based in Europe.