Denmark to abolish secondhand vessel registration fee for

Currently when a new secondhand ship is registered with the Danish International Ship Registry, a one-time fee of one per thousandth of the value of a ship is charged, as well as a fee for registration of a mortgage, which also represents one per thousandth of the value of the deposit, much higher than charged by many competing international registries.

The Danish government is proposing to abolish the fee.

Explaining the impact of the fee Jan Rindho ceo of Norden said: "Today, it can be three to four times more expensive to register a ship in Denmark than in e.g. Singapore. The better the conditions offered by Denmark, the higher the probability that more ships will fly the Danish flag. I see it as an important matter for the entire shipping industry.”

Shipowner representative body Danish Shipping welcomed the move and ceo Anne H. Steffensen said: “We know from talks with Danish and foreign shipping companies that the registration fee is an obstacle when they wish to register under Danish flag. Therefore, I am pleased that the fee will be removed as this will make Denmark a more attractive market. It is a good day for the Danish maritime cluster, and it sends a strong signal that Denmark will be a global maritime power house.”

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Denmark to abolish secondhand vessel registration fee for international flag