Liberia Extends Ship Registry Management Agreement for Further Ten Years

The Liberian Bureau of Maritime Affairs has reached an agreement with the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, to extend for a further ten years the agreement under which LISCR manages the registry.

LISCR has managed the Liberian Registry since January 1, 2000. During this period, the registry has greatly improved its levels of service, safety, security and client satisfaction, as a result of which it has attracted a record number of shipowners from around the world. Under LISCR management, the registry has grown in size from 1,700 vessels of 53 million gross tons to over 3,000 vessels of almost 90 million gross tons – the highest totals in its sixty-year history.

Yoram Cohen, CEO of LISCR, says, “We are delighted to have reached agreement with the Liberian Bureau of Maritime Affairs to extend our management of the Liberian Registry for a further ten years. The registry has a long-established track record of combining the very highest standards for vessels and crews with the highest standards of responsive service to owners, and is on the White List of all the leading Port State Control regimes. Our record speaks for itself, and gives us the opportunity to develop the register still further as an industry leader in terms of its expertise and initiative, and to build on its record tonnage figures.

“The renewal of the management agreement is confirmation of the spectacular progress which the registry has made under LISCR’s stewardship, whilst maintaining its excellent safety record. We have added over 1,300 vessels in the last ten years and, even with the general economic and market downturn and the cancellation of some newbuilding orders, which has affected all ship registries, we are still set fair to significantly increase tonnage levels over the coming years.

“That growth will come from both newbuildings and from existing, quality ships. And it will be growth on an international scale that will reflect the strength of the registry’s global brand and the high regard in which it is held by leading shipowners and operators. Germany and Japan are particularly exciting areas for us in terms of expansion, and our dedicated offices in Hamburg and Tokyo are doing brisk business.”

Scott Bergeron, LISCR’s Chief Operating Officer, adds, “These are tough times for shipping and, in order to compete, ship registries have to take a proactive interest in their clients’ business. The Liberian Registry continues to work on a number of initiatives to help its customers survive the current economic crisis, including making special arrangements for ships while in lay-up. And it continues to plan for the future, for example by taking a proactive role on compliance with the ILO Maritime Labour Convention and by providing an industry lead in the conduct of harmonised audits.

“Liberia believes in making sure that well-run ships comply with both the spirit and the letter of the law so that they can go unimpeded about their business of keeping world trade moving and generating much-needed revenue for their owners. Where possible, it does everything it can to anticipate problems before they occur. In this way it can be the eyes and ears of its customers.”

Yoram Cohen concludes, “The Liberian Registry has put in the hard work on a number of important issues, and we are delighted that we will now have the opportunity to see some of our initiatives come to fruition over the next ten years.”