The People’s Republic of China (PRC) and the Republic of Liberia signed a five-year extension of their maritime agreement, further bolstering the two countries’ close relations and their long-term cooperation in the field of maritime transport.
Under the renewal, Liberian-flagged vessels will continue to enjoy a 28% port dues reduction when visiting any port in China. These savings can translate to an effective net increase in time-charter equivalent rates of $1,000 per day based on a 100-day voyage.
Furthermore, it has been agreed to establish a technical co-operation committee, so that both countries can collaborate in areas such as port state control, crew training and future maritime regulatory policy, the Liberian Registry informed.
The agreement was signed by China’s Minister of Transport Li Xiaopeng and Liberian Maritime Authority Commissioner James F Kollie. Minister Li noted how the agreement had injected new vitality into the friendly bilateral relations established between the PRC and Liberia over recent years.
He added that renewal of the agreement will further strengthen co-operation in the shipping, maritime, port and transport infrastructure sectors, as well in the training and education of seafarers.
Commissioner Kollie said renewal of the maritime agreement underlines the strong friendship which exists between the two countries and takes mutual relations to a new level.
The recent maritime law amendments introduced by Liberia, which allow a financing charter to be recorded as a mortgage, are likely to strengthen still further the high level of mutually beneficial co-operation which exists between Liberia and its Chinese partners.
