The Madeira International Ship Registry (MAR) is approaching one of the largest ship registries globally by crossing the threshold of 30 million gross tons. This achievement comes as the registered fleet has nearly doubled since 2020.
MAR's Goal for 2027
MAR aims for the Portuguese flag to enter the top ten countries in ship registration by 2027 and become the second largest registry in the European Union. This growth is evident not only in quantity but also in the quality of the fleet. With an average age of ships at 13.3 years, the Portuguese flag is considered the youngest among the major registries in the European Union.
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Quality and Growth of the Fleet
This increase in the number of ships has not come at the expense of fleet quality, and MAR remains on the white lists of the Paris and Tokyo Memoranda of Understanding. This indicates that growth and quality can progress simultaneously. With improved results from government inspections at ports, this point is further emphasized.
Shipowners and managers choose the Portuguese flag for several reasons. 24-hour services from EUROMAR in all time zones, reduced port costs in Brazil and China, and the support of Portugal's diplomatic network with around 110 missions worldwide are among the factors that are currently very important in the international shipping industry.
Surpassing 30 million gross tons reflects the trust of shipowners and managers in the Portuguese flag. MAR thanks these choices and will continue to support its fleets as part of its goals for 2027.
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