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Bareboat Registration & Mortgages

Maltese law provides both for bareboat charter registration of foreign ships under the Malta flag and also for the bareboat charter registration of Maltese ships under a foreign flag.

Once a vessel is provisionally registered, registration, transfer and discharge of mortgages may be effected immediately on presentation of the relative documents to the Registrar. A mortgage over a Maltese ship shall have effect vis-à-vis third parties once it is duly recorded in the register. The priority of mortgages over the said ship is determined by the date and time of their record in the register.

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Registration of Mortgages

The Malta Shipping Act provides for the registration of mortgages over Maltese registered vessels as a means of security.

Article 38(1): ‘An instrument creating security……executed by the mortgagor in favour of the mortgagee.’ It is a high-ranking form of security.

Requirements for provisional registration include:

A mortgage is a means of securing any debt or obligation.

It may secure:

  • Loans
  • Overdraft facilities
  • Guarantee – securing third party obligations
Bareboat Charter Registration
The Malta Shipping Act provides for the bareboat charter registration of:

  • foreign ships under Malta flag (Bareboat In) ; and
  • Maltese ships under a foreign flag (Bareboat Out)
The Main principles being as follows:

  • Compatibility between the two Flag Registries
  • Matters regarding title over the ship, mortgages and encumbrances are governed by underlying registry
  • Operation of the ship falls under the jurisdiction of the bareboat charter registry
  • Registration shall be for the duration of the bareboat charter or until the expiry date of underlying registration
Previous Service

Yacht Registration