Between 80-90 percent of world trade is done by sea transport, and the Bahamas Flag ranks among the top 10 of the world’s largest fleets, regardless of measure, controlling about 1600 ships and rigs at any one time. Operating worldwide in intense global competition, Bahamian flagged shipowners create enormous value for the world economy as well as for the Bahamian economy.
Some of the members of the Bahamas Shipowners Association are among the largest companies in their domains, such as the tanker, bulk, and cruise industries. Other members are smaller, operating just a handful of ships. The role of the Bahamas Shipowners Association is to ensure all the diverse needs of our members are catered for, regardless of size.
The Bahamas Shipowners Association is constantly working towards providing the Bahamian flagged shipping industry with internationally competitive terms. Keeping the Bahamas Flag among the very best and most competitive in the world requires constant work. This involves setting up, maintaining, and continually developing the right framework of conditions for running maritime business with a legal base on the Bahamas. To successfully realise such conditions, it is of utmost importance that Bahamian maritime and business policy is internationally competitive. In this, the Bahamas Shipowners Association cooperate closely with the Bahamas Maritime Authority.
The Association is committed to harmonising conditions internationally and to an internationally neutral competitive market. It is one of our core values, that access to the shipping market should be a level playing field and open to all regardless of which flag a ship is operated under.
The Bahamas Shipowners Association is a strong supporter of the Bahamas government’s aim to keep at the forefront of shipping regulation. The typical competitor to a Bahamian flagged ship operates under highly competitive legal and business conditions. It is the aim of the Bahamas Shipowners Association to ensure that the Bahamian authorities are kept aware and have a good understanding of the very competitive market environment and changes to it. The Bahamas Shipowners Association monitor developments on the shipping market and in close dialogue with the Bahamas Maritime Authority, we actively ensure the Bahamian Flag follow global developments closely ensuring that Bahamas’ international competitiveness remains intact.