The Isle of Man Ship Registry (IOMSR) is expanding its fleet in a deal with publicity-shy owner MX Bulk.
The shipping company, also based on the Irish Sea island, is flagging four new ultramax bulkers being built at Tsuneishi Group in Zhoushan, China.
The 64,000-dwt ships include two recently handed over, the Ellan Manx and Maye Manx, as well as the Greeba Manx and Kirry Manx, which will come into service this autumn.
The five other operational MX Bulk ships are already flagged in the Isle of Man.
Two more MX Bulk ultramaxes are due from the Chinese yard in 2023.
It remains unclear who is behind MX Bulk. Some sources say Norway’s Lars T Ugland is involved in the operation, but he insists this is not the case.
The Ugland family has long-standing relations with Japanese shipbuilders, especially Tsuneishi.
Others say Pacific Basin has a small stake in MX Bulk.
IOMSR director Cameron Mitchell said the registry and MX Bulk share much in common, from their Isle of Man headquarters to a dedication to quality, high standards and seafarer welfare.
The flag operation can now offer support through its China representative Jon Kingdon in Shanghai.
“Through Jon we can supply on-the-ground technical support in China while the ships are being built as well as here on the island. The Far East and China remain key growth markets for the IOMSR, with two-thirds of our fleet now managed in Asia,” Mitchell added.
MX values stability
Bulk carriers make up the largest percentage of vessels in the registry, followed by tankers, gas carriers and chemical carriers.
An MX Bulk spokesperson said: “Our latest newbuildings present particular challenges, given the global geopolitical and economic uncertainty which exists in the world today."
"The stability of the Isle of Man as a jurisdiction alongside the professionalism and integrity of the ship registry continues to offer great reassurance for companies such as ours. We look forward to continuing our working relationship with the Isle of Man Ship Registry for many years to come,” the spokesperson added.
IOMSR offers discounts for multi-ship fleets, as well as fee incentives for environmentally friendly ships.
