CHANGES IN THE SHIPPING TAX REGIME

The Norwegian International Ship Register -NIS- was established in 1987.

Since then it has provided the shipping industry with a continuing competitive and high quality option for registration under the flag of a nation with long standing maritime competence.

Norway has been one of the world's largest shipping nations since the late 19th century. This prominent position has been sustained over the years by the ability of Norwegian companies to adapt promptly to changing market requirements.
The NIS combines the advantage of being located in an industrialised nation with competitive conditions, rules, and regulations.

Ships registered in the NIS fly the Norwegian flag and are subject to Norwegian jurisdiction.
Norway’s ordinary shipping legislation applies to them with some exceptions and special rules specific to the NIS.
Norway’s comprehensive code of maritime law also gives creditors the assurance that it represents a secure and professional alternative.
Norwegian law is recognised in the maritime related field as sophisticated and predictable.

Great emphasis has been placed on maintaining a quality register which ensures that vessels operating under the NIS regulations meet highly acceptable safety and working standards.
To ensure this, the rules are based on the obligations accepted by Norway, particularly with regard to the International Maritime Organization (IMO) and International Labour Organisation (ILO) conventions.

TYPE OF VESSELS THAT MAY BE REGISTERED
Self-propelled passenger and cargo ships and hovercraft, as well as drilling platforms and other movable installations, may on request be registered in the Norwegian International Ship Register.

OWNERSHIP
NIS is open to foreign shipping companies.

MANAGEMENT
Ships registered by Non-Norwegian owner shall be operated by a Norwegian shipping company with its head office in Norway.
This means either technical (manning, outfitting, maintanance, etc.) or commercial operation (chartering, marketing, etc.) of the vessel.
The vessel can also be operated wholly or partly from management offices abroad which are owned by a Norwegian shipping company with its head office in Norway.

TRADING AREA RESTRICTIONS
Ships registered in the Norwegian International Ship Register are not permitted to carry cargo or passengers between Norwegian ports or to engage in regular scheduled passenger transport between Norwegian and foreign ports.
For the purpose of this Act, oil and gas installations on the Norwegian continental shelf are regarded as Norwegian ports.
This paragraph leaves open the possibility for the Norwegian Maritime Directorate to issue dispensations to the trading area restrictions.

SAFETY REQUIREMENTS
Norway has ratified the most IMO/ILO Conventions, Protocols and Amendments which also apply to the NIS, such as Safety of Life at Sea Convention (SOLAS), including the International Safety Management Code (ISM), the Convention on Standards of Training, Certification and Watchkeeping for Seafarers (STCW) 1995, the Marine Pollution Prevention Convention (MARPOL) and ILO Convention No.147 Merchant Shipping (Minimum Standards)