On the 12th December, 2012, the Civil Aviation Act 2012 received the assent of Parliament.
A new system for registering security over aircraft and aircraft engines recently came into force in the BVI.
The Department of Merchant Shipping recently announced that it has amended the form for declaration by a legal representative or auditor of a company adopting the tonnage tax system that the company concerned was tax resident in Cyprus for the relevant year.
The Department of Merchant Shipping recently announced that with effect from the 2012 tax year, all owners of foreign ships, charterers and ship managers participating in the tonnage tax system must submit a declaration by their legal representative or auditor in the prescribed form, together with their tonnage tax declaration.
A recent decision of the Supreme Court in its first instance admiralty jurisdiction gives valuable insight into the court's approach to applications for the arrest of vessels and for security to be lodged with the court for the release of the vessel.
The Department of Merchant Shipping HAS recently announced how aspects of the EU Passenger Liability Regulation will be applied within Cyprus and to Cyprus-flagged ships.
The respondent, Delaford Trading Limited, was engaged in a separate action (20/12) in the Admiralty Court against the same ship for provision of bunkers and lubricants.
The Department of Merchant Shipping has recently issued guidance on several aspects of the tonnage tax system under the Merchant Shipping (Fees and Taxing Provisions) Law (44(I)/2010).
The new aims to simplify and harmonise the administrative procedures applied to maritime transport under the Reporting Formalities for Ships Ariving and Departing from Ports of the Republic Law of 2012.
The Protection of Cyprus Ships against Acts of Piracy and Other Unlawful Acts Law of 2012 has entered into force following publication in the Official Gazette on 15 June 2012.
The Cyprus Department of Merchant Shipping has issued a circular (26/2012) reminding operators, representatives and masters of foreign vessels calling at Cyprus ports of their obligations under the Merchant Shipping (Community Vessel Traffic Monitoring and Information System) Law of 2004 as amended and the Merchant Shipping (Port State Control) Law of 2011.
This case arose out of the common scenario where a supplier delivers bunkers to a "fleet" of ships it believes are under common control and extends credit terms to its customer.
In addition to the obvious benefits of the Isle of Manís stable political and economic environment the benefits of the Isle of Man as a jurisdiction for aircraft (high quality private and corporate jets and high quality twin turbine-engine helicopters which are not used for commercial air transport) registry are primarily:
The consolidation of laws on registration of aircraft and mortgages into a single Act will undoubtedly see Malta become one of the most competitive jurisdictions in Europe for aviation registrations.
Over recent years, Malta has witnessed growth in the aviation industry, attracting internationally renowned entities to set up operations in Malta.
The VAT Department in Malta has issued guidelines relating to aircraft leasing.
A pleasure yacht can be registered under the Malta flag provided that it is wholly owned by either citizens of Malta or European citizens or bodies corporate established under the subjects of the Laws of Malta or Foreign corporate bodies or entities, in accordance with Merchant Shipping Act and the relevant subsidiary legislation.
Ports are expanding worldwide in anticipation of the Panama Canal's new locks, expected to open in 2014.
A region of the world which is likely to see a lot of activity in the rail sector is the Middle East and over the course of 2013 Train Times will include detailed articles on various developments in the region.
Rapid urbanisation and economic growth are placing ever increasing demands on road networks in the Middle East and there is growing acknowledgement in the Gulf Cooperative Council (GCC) on the need for infrastructure investment to ease traffic congestion.