One Thousand Vessels Now Fly Portuguese Flag
The International Shipping Register of Madeira (MAR) has officially reached 1,000 registered vessels, marking a key moment in the growth of Portugal's flag within Europe.
In the 11 years since EUROMAR's establishment, nearly 200 shipping companies from around the world have chosen MAR.
Albrecht Gundermann, Co-Managing Director and founder of EUROMAR, states: “The development of the register is excellent. When we started 11 years ago, we had a clear goal in mind: to provide Europe with a reliable, fast and innovative shipping register. The registration of the thousandth ship is a great acknowledgement of our commitment and of all entities involved in Madeira and Portugal, including the registry and the maritime administration. We want to continue this positive development and are already targeting 2,000 ships as our next milestone.”
MAR has been growing predominantly with ships that previously had a non-European flag.
Jörg Molzahn, Co-Managing Director and founder, adds: “Following the growth in various European shipping markets, we are particularly pleased about the recent decision of many Greek shipowners in favor of the Madeira Shipping Register. Greece has the largest owned fleet in Europe and decisions there are followed by the entire European shipping industry. Growth will therefore continue, driven by the diversity of all major European owner nations.”
In 2024, Portuguese-flagged ships consistently achieved top scores in the relevant maritime safety regimes, Paris MoU and Tokyo MoU. “We also want to contribute further to the sustainability of maritime transport, together with our partner OceanScore, whose software solutions are supporting a wide range of shipping companies in efficiently managing the commercial processes related to EU ETS and FuelEU. The future belongs to safe, climate-neutral, and innovative shipping,” said Molzahn.
The thousandth vessel, Star Asia, a bulk carrier managed by Chartworld Maritime Management Corporation, based in Glyfada, Greece, joined the registry on December 9. The ship, built in 2017, changed its flag from the Bahamas to Portugal in Singapore.
