Thursday 2nd May, 2019-The Cabinet has given the Antigua and Barbuda Department of Marine Services and Merchant Shipping instructions to begin exploring other markets as the number of registering ships has declined.
The Board of ADOMs went before Cabinet yesterday to report on the state of the statutory body, focusing primarily on its annual revenues.
The ADOMS is responsible for registering ships that choose to fly the Antigua and Barbuda flag, as permitted under the 1986 Merchant Shipping Act, and its various amendments. This source of non-tax revenues continues to be helpful to the Treasury of Antigua and Barbuda, but overtime, it has seen a sharp decline.
The ADOMS Representative in Germany has indicated that exploration of the viability of other markets, in other jurisdictions, has already begun.
A number of fixes in Antigua were also proposed, in order to make the Antigua and Barbuda jurisdiction as efficient and as attractive as any flag in the world.