The Isle of Man has found itself with a new competitor in the shipping registry market after the Red Ensign Group upgraded the British Virgin Islands.
The group, meeting at a conference in Guernsey, upgraded the BVI’s register to category one, the same class as the Isle of Man.
Under category one, the British Virgin Islands will be able to register cargo ships of unlimited size.
The other Category 1 Registers belong to Bermuda, the Cayman Islands and Gibraltar, as well as the Isle of Man and the United Kingdom.
(Image: The flag of the British Virgin Islands).
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