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Britain

Ships lured to register

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SCMP Reporter

SUPER tankers are a common sight in the Isle of Man ports of Castletown, Douglas, Peele or Ramsey.

And the names of these ports can also be found on some of the world's biggest ships.

Although fishing trawlers are far more common on the Isle of Man than tankers and bulk carriers, the island has become the register of choice to blue chip companies, including British Petroleum, Maersk and Shell.

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The Isle of Man has set itself up as a secondary register to Britain.

Although it was only set up in 1984, there are more than 140 vessels listed.

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It is all part of the island's strategy of diversifying its economy away from financial services, which account for more than a third of gross domestic product.

The main attraction for shipping is the island's low tax system.

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