IRELAND could become the "Cyprus or Malta" of north western Europe by establishing an open shipping register. Such an initiative could generate up to 4,000 jobs, the Irish Institute of Master Mariners (IIMM) has claimed.
An open shipping register which permitted international ships to sail under Irish colours would not represent a loose "flag of convenience". Nor would safety standards - which are at a premium within the EU - be jeopardised, the institute has said.
Shipowners now realise that safety and environmental protection made economic sense and business could be attracted from elsewhere on such grounds, the institute has said.
It has just received 50 per cent funding from the IDA to carry out a feasibility study on Ireland, as a centre for international maritime services. The study will be conducted with the Nautical Enterprise Centre at Cork Regional Technical College.
Originally proposed by Capt Kevin Cribbin, an IIMM member, the concept has potential for development within the International Financial Services Centre in Dublin.
Open registers, which involve financial incentives such as tax reliefs, financial transfer and "competitive" manpower arrangements, have been growing at an average of 1 per cent per year since the late 1960s, and currently account for 52 per cent of world tonnage. The Bahamas and Malta, which had very few ships registered under their flags in 1980, now represent the top 10 in world fleets.
Most major shipping companies register all or part of their fleets in countries which are not their primary business locations, the institute says.
It would also have a spin off here, in terms of training more young, people to work within the shipping sector, the institute says. Cork RTC currently trains and places about 60 school leavers.
Speaking at the IIMM's annual dinner in Dublin at the weekend, the Minister of State for the Marine, Mr Eamon Gilmore, welcomed the institute's initiative. The proposal merited "serious consideration", he said.
