Liberia is now the second largest ship registry in the world, according to Clarksons in its Clarksons World Fleet Monitor January 2019. This report confirmed that, in gross tonnage terms, Liberia has surpassed the Marshall Islands, which is now in third place.
Commenting on this, Alfonso Castillero, CCO of the Liberian International Ship & Corporate Registry (LISCR), said that the Liberian fleet was the fastest growing major open flag in both the shipping and offshore sectors in 2018, and currently has a growth rate of 8.0%.
There are a number of reasons for this, not least a growing recognition on the part of major shipowners and managers that Liberia, more than any other flag state, is able to combine increased safety and efficiency with reduced costs
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Mr. Castillero also added that the quality of service and the rapid response are key factors behind the significant growth. Moreover, owners and managers are choosing Liberia because of cost savings achieved under the agreement on port dues with China.
In addition, Alfonso Castillero mentioned that, in comparison to other flags, the detention rate for Liberian-flag ships reduced significantly in key jurisdictions in 2018, especially in areas like China. This happened mainly due to Liberia’s complimentary Detention Prevention Programme.
Liberia is ideally positioned to further strengthen its leading position in the global shipping industry. It will do this by continuing to take proactive action in the best interests of owners and managers who make their flag choices on the basis of a registry’s proven success and effectiveness
Mr. Castillero concluded.