Bermuda is increasingly being recognised as one of the world?s preferred places for the registering of ships and planes.

The Island is one of only two shipping ?flag states? that received no negative indicators in the 2005 Shipping Industry Flag State Performance Table.

Used to indicate standards of safety, environmental and social performance, the table of 116 flag state shipping jurisdictions shows Bermuda with no black marks next to its name ? a record that outperforms the UK and 113 other countries and states.

?We are world class in our shipping register,? said Junior Transport Minister Senator Walter Roban, during a Senate discussion on the budget allocation to Ministry of Tourism and Transport. ?We do better quality work than the UK.?

Being a well-regarded place for registering ships brings in revenue for the country and it is estimated in the coming year almost $1 million will be generated for the Island once expenditure has been taken into account.

During 2006, Sen. Roban expects another 11 new vessels to be registered under the flag of Bermuda.

At the end of last year there were 135 commercial ships, including nine oil tankers, together with 255 yachts registered to fly the Bermuda flag and abide by quality standards and inspections carried out by the Department of Maritime Administration.

However, Sen. Roban said: ?During December 2005 the Bermuda registered grounded on the island of Faial in the Azores, becoming damaged to the extent that it is unsalvageable and will be removed as a wreck.

?The department enlisted the service of the UK Marine Accident Investigation Branch to carry out an investigation into this incident, which is being conducted jointly with the Portuguese Government. The cost of the investigation is expected to be approximately $70,000.?

When it comes to aircraft Bermuda is also gaining a reputation as having a ?safe, well-regulated register? said Sen. Roban.

The register of aircraft on the Island has increased from 170 to 190 in the past year.

?The most significant growth is occurring in the registration of large commercial and private category aircraft, reflecting the status of Bermuda as a preferred jurisdiction for certification,? he added.

Attracting more business in this area has boosted revenue for the Island and Bermuda has twice in the past 18 months been successfully inspected by the UK?s Air Safety Support International organisation that ensures aviation safety and regulation meet international standards.

The Island is also the only UK Overseas? Territory that has full, unconditional designation of the Governor?s aviation safety regulation powers for all aspects of aviation.

And Sen. Roban added: ?After September 30 this year, the Department will take over from the UK the role of issuing seasonal operating permits for all scheduled air carriers operating in Bermuda.?