ECONOMY

Returns registered for Cayman Islands

The Cayman Islands Shipping Registry (CISR) announced yesterday the relaunch of its operations in Greece with a revamped team based in Athens and the introduction of full line services for commercial shipping. The announcement was made by Joel Walton, CEO (designate) of the Maritime Authority of the Cayman Islands (MACI) and director of the CISR, as part of its participation at Posidonia 2006, the world’s foremost commercial shipping exhibition currently on at the old Athens airport at Hellenikon. «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 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.» 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 (UK) and Amsterdam offices. 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 percent over the past three years while pleasure yacht registrations have doubled over the past three months alone, Walton said. Headquartered in George Town, Grand Cayman, the CISR also maintains offices in Southampton, Amsterdam, Athens and Tokyo.