It was only in 2001, due to the high demand, that the Marshall Islands Government expanded its Ship Registry to include commercial and private yachts.
The RMI Maritime Administrator (the “Administrator”) revised the RMI Yacht Code (the “Code”) to reflect changes and developments in today’s yacht market, also covering recent technological advancements, new international conventions coming into force, and port State control (PSC) inspection of yachts. The Code provides an easy to comprehend and practical approach to evolving safety and technical issues while being supported by a strong worldwide yacht technical group. The yacht technical group works with industry stakeholders on a case-by-case basis and is available 24 hours a day, seven days a week.
The Code applies to all RMI registered commercial yachts, private yachts limited charter (PYLCs), and passenger yachts (PAXYs) and has no maximum restriction on the tonnage or size of the yacht. The Code, in conjunction with the relevant international conventions to which the RMI is a party, sets the standards and substantial equivalencies for safety, security, pollution prevention, and seafarer accommodations appropriate to the size of the yacht, taking into consideration circumstances where it is not reasonable or practical to comply fully with international conventions.
All yachts to which the Code applies must be annually inspected by an Appointed Representative of the Marshall Islands flag or a Recognized Organization, as applicable, to confirm compliance.
The RMI Registry is ranked as the third largest in the world. Yachts currently comprise 18% of the total number of vessels in the fleet.