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Commercial Shipping Services in Greece

Athens, Greece – 6 June 2006 – The Cayman Islands Shipping Registry (CISR) announced Monday, June 5th the re-launch of its operations in Greece with a strengthened, dedicated team based in Athens and the introduction of full-line services for commercial shipping.

The announcement was made by Mr Joel Walton, CEO (Designate) Maritime Authority of the Cayman Islands (MACI) and Director, CISR, as part of its participation at Posidonia 2006, the world’s foremost commercial shipping exhibition.

“We are confident that, with this increased investment in the CISR’s Greek operations, we will be better positioned to meet the growing needs of Greece’s commercial shipping sector,” said Mr Walton. “The Cayman Islands has enjoyed a high profile in the Greek shipping sector for some time and increased services are a natural progression as the CISR continues to grow in size and stature around the world.”

The CISR’s operations in Greece now include survey and audit services, increased capacity in vessel registration to meet the growing needs of the commercial market and mortgage services for new and existing clients. The CISR’s presence in Greece and the European region will be further supported by its other professionals based in its Southampton and Amsterdam offices.

In making the announcement, Mr Walton also introduced those who will be leading the CISR team in Greece. They include Mr Peter Vettas, NAV ENG, who will direct survey and audit operations, Mr Dimitris Thomas, who will have responsibility for registration and mortgages, and Ms Georgia Thomas, who will provide additional support and expertise to the CISR’s core functions across all areas.

The Cayman Islands has experienced significant growth in the Greek market for both the commercial and pleasure industries. Commercial shipping has grown steadily by 28 per cent over the past three years while pleasure yacht registrations have doubled over the past three months alone. Alloy Yachts, B Navi, Bue Marine Group, Delta Marine, Ernst Jacob, MOL, Premuda Tankers, Sea Pioneer Shipping, Stolt-Nielsen and Trinity Yachts are just a few of the companies who have registered vessels that fly the Cayman Islands flag.


For further information contact: Corporate Communications