Creating an attractive Ship’s Registry - the draft South African Maritime Policy

The overriding objective of the Department of Transport is to develop South Africa into one of the world's top 35 maritime nations. This bold goal is set out in the Draft South African Maritime Transport Policy of 10 August 2010. Barely a week goes by without the South African Maritime Safety Authority commenting on the need for a national shipping fleet to carry the ever-increasing quantity of cargo moving out of this country. The policy aims to increase the number of vessels under the South African flag and to create employment in the maritime transport sector.

There are currently no cargo ships of any description on the South African Register. As the law currently stands, there is little to attract any potential customers. There is also little to encourage banks or other private equity interests to invest in ships.