big registry deal
p. 37 · Read in the full issue
Marshalls clinch big registry deal
THE Marshall Islands ship registry cashed in on the civil war in Liberia and clinched a bumper deal last month that is expected to bring in millions ofdollars.
The deal, announced by Marshalls ship registry commissioner Howard Zeder, creates a partnership with the Liberian ship registry, the largest in the world.
Marshalls’ new partner in Trust Company of the Marshall islands, is United States Life Insurance (USLI), which is based in Reston, Virginia. It owns the Liberian registry company.
Said Zeder: “The Marshalls is very secure, politically stable and economi cally predictable at least for the next 12 years. We have a good reputation, we’ve had no casualities. And we’re part of the U.S. Effective Control Fleet, which is very important for American shippers. We’ve got all the right components.’’(Ships registered in the Marshalls come under the protection of the American flag).
The Liberian registry has 65 million tonnes of ships compared to four million in the Marshalls. □