The Cayman Government has approved a designated special economic zone (SEZ) for maritime service companies on Grand Cayman. Shipping companies and maritime service providers are now permitted to establish a physical presence in the newly created Cayman Maritime Service Park of Cayman Enterprise City.
Cayman Enterprise City is now into it’s 3rd year and comprises six parks with 154 zone companies. The new Maritime service Park will see ship owners, brokers and financiers, freight trading, operations, logistics, vessel management, consulting and research companies added to their numbers. It is anticipated that the Park will bring maritime services businesses to Cayman shores that will help to establish Cayman Islands as the largest maritime cluster in the region.
In April, the Cayman shipping registry was commended by the International Chamber of Shipping, in its annual Flag State Performance Table, as being 1 of 14 states leading the chart with exemplary performance indicators. Following this recognition the Office of the Premier announced the completion of the necessary steps by the Government to create the Maritime Service Park, during the 2015 Shipping Summit at the Marriott resort. (more…)