Marshall Islands Registry Continues Strong Growth

International Registries, Inc. and its affiliates (IRI) provide administrative and technical support to the Republic of the Marshall Islands (RMI) Maritime and Corporate Registries. The RMI Registry is the third largest in the world surpassing 96 million gross tons and nearly 3,000 vessels at the end of September 2013. The RMI Registry is expected to reach 100 million gross tons over the next two quarters.

Japanese shipowners, whose tonnage has more than doubled over the past several years, are very important to the RMI Registry. The majority of this tonnage is comprised of bulk carriers and gas carriers. Gas carriers represent 9% and bulk carriers represent 37% of the fleet overall in terms of gross tonnage.With just over 100 gas carriers, the RMI Registry has the largest gas carrier fleet of any flag including several Q-Flex vessels operated by MOL, K-Line and NYK.

Japan is a world leader in terms of imported clean energy and there are plans for a significant LNG shipbuilding program to meet global demand during the next 20 years. Bloomberg estimates that there will be over 700 LNG vessels in  service by 2030. Our expertise and experience in LNG makes us the flag of choice in this sector,” said Bill Gallagher, President of IRI.

Owners in Japan and around the region recognize that our well-resourced local offices, backed by a robust global network, are critical components to maintaining strong and growing partnerships,” said Annie Ng, Managing Director of International Registries (Far East) Limited.

The RMI Registry works closely with owners and operators and those owners with vessels registered in RMI are able to realize the benefits of a flag which provides a high quality service. Those vessels operating under the RMI flag achieve  consistently high ratings in the port State control (PSC) international rankings. The RMI has been included on the United States Coast Guard Qualship 21 roster for the ninth consecutive year, which is unparalleled, and continues to be  included on the white lists of both the Paris and Tokyo Memorandums of Understanding (MoUs).

The Maritime Labour Convention, 2006 (MLC, 2006) entered into force on 20 August 2013. With 31 countries now enforcing the Convention, PSC in those relevant jurisdictions have been inspecting ships that must comply. The RMI  Maritime Administrator has issued 2,160 Declarations of Maritime Labour Compliance (DMLC), Part 1 against the now 2,200 vessels that must comply with the Convention.

There have been a number of reports published relating to MLC, 2006 and flag State detentions; some of which have been inaccurate. We are happy to confirm that thus far we have not had a detention on any of our ships with respect to  MLC, 2006,” said Bill Gallagher.

We took the initiative early and up to the enforcement date, we have been providing seminars, meeting with owners and operators individually, and providing guidance through our Marine Notices so our shipowners could be prepared,”  added Masaharu Okamoto, Representative, International Registries (Far East) Limited Japan Branch.

Our first owners to receive MLC, 2006 certification were our Japanese owners, which is indicative of the proactive approach of the Japanese shipping community,” continued Bill Gallagher. “Owners in Japan and around the world have  come to expect quality service from the RMI Registry and we will continue to deliver on those expectations,” concluded Mr. Gallagher.

IRI, October 21, 2013

 

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