The Merchant Shipping (Amendment) Bill 2025, promulgated by Premier and Minister for Finance, Dr the Honourable Natalio D. Wheatley (R7), was approved on March 31, 2025—with further amendments. Photo: YouTube/HoA

The Merchant Shipping (Amendment) Bill 2025 was subsequently unanimously approved by members of the House of Assembly with further amendments. Photo: Youtube

Addressing members in his rebuttal to the continuation of the Third Sitting of the Second Session of the Fifth House of Assembly, Dr Wheatley wasted no time in reinforcing the economic aspirations of the Virgin Islands government, pointing to the high-stakes game of global shipping registry competition—in which the Territory finds itself, pressing the need for the amendments. 

One-Stop Shop

Floating the prospect—a VI-based “one-stop shop” for shipping enterprises, as well as coupling vessel flagging and company formations directly within the Virgin Islands, he said, lofty ambitions are not without pressing deadlines.

According to Dr Wheatley, there is also the issue of a key audit looming in December, and made it clear that the legislative tweaks are not just about vision—they are survival tools.

“We have an important audit coming up… and the changes we are making to the Merchant Shipping Act are key in being able to perform well in this audit; So that we can retain our category 1 status and to be able to register these big vessels—which is big business for the territory.”

Qualifying his position further, the Premier spoke of the high-wire act involved—balancing local autonomy, international compliance, and economic ambition telling members, “...what we are doing is fit for purpose in being able to comply with the code; To ensure that we don’t set ourselves back in any way.”

The Merchant Shipping (Amendment) Bill 2025 was subsequently unanimously approved—with further amendments—after members emerged from the Special Select Committee to address the proposed Bill clause-by-clause.