Maritime companies abandon the British flag

New Brexit effect in Britain, shipping companies leave the maritime register and therefore abandon the British flag, because of the uncertainty surrounding the departure of Britain from the EU, now set to 31 October.

 

 

 

Among the companies that left the British flag, the French maritime group CMA CGM, which in 2016 was the largest owner of ships container under the British flag with 49 vessels. Since the referendum and to avoid any uncertainty, GMA CGM had decided to transfer its British flag fleet to other European countries. In particular to France and Malta where transfers are made since March 1, 2019.

 

 

 

According to official data, as at 31 May 2019, 1,229 vessels were registered under the British flag, representing 10.5 million GT (gross tonnage / gross tonnage). At the end of May 2018 there were 1,315 vessels representing 16.5 million GT.

 

 

 

The decline in the number of ship registrations in Britain is likely to be a blow to the country's tax revenues. The valuation company VesselsValue revealed that the British flag ranked 22nd worldwide, while Panama occupies the first place with more than 203 million GT.