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The Isle of Man Ship Registry has released its 2025 Maritime Labour Convention Annual Report, revealing key compliance trends across health and safety, accommodation standards, and employment documentation. With 248 inspections conducted and specific deficiency patterns emerging from both flag state and port state control activities, the report provides critical insights for vessel owners and managers operating under the IOM flag.

A Special Purpose Vehicle (SPV) is a subsidiary created for specific financial or operational purposes. SPVs are commonly used to isolate risks, manage project-specific operations, and facilitate...