Discussions are underway to make it more attractive for ship owners to fly the United Arab Emirates flag on their vessels.
Discussions are underway to make it more attractive for ship owners to fly the United Arab Emirates flag on their vessels. The move is being driven by the recently formed UAE Ship Owners Association as the regulatory environment and procedures for the registration of ships in the region come under scrutiny in November at the Middle East Money & Ships 2007 conference.
The conference, which will focus on contemporary issues in maritime finance, was previously based in London and moved to Dubai in 2005 to examine the emergence of strong investor interest in the maritime sector.
One of the aims of the UAE Ship Owners Association which, alongside DP World, is a supporter of the conference, is to promote the UAE flag internationally by proposing amendments to authorities and streamlining procedures and associated legislation for the registration of ships under the UAE flag.
"We want to see something based on, say, the Singapore flag," said Captain Jitendra Misra, general secretary of the association and managing director of Emarat Maritime.
The association's president, Major General Sharafuddin Sharaf, also vice chairman of Sharaf Group, will provide the keynote address at the conference on the state of the maritime industry in the region. He will be examining key market sectors and growth drivers in ship owning.
Other speakers on regional developments will include Ahmed Essa Hareb Al Falahi, CEO of Gulf Energy Maritime, and Mohammad Souri, chairman and CEO of the National Iranian Tanker Company, a sponsor of the conference.