LISCR Welcomes Liberian Government IMF Move

Wednesday, December 12, 2001
The Liberian International Ship & Corporate Registry (LISCR) has welcomed action by the Government of Liberia to seek IMF auditing of funds from the Liberian registry. Yoram Cohen, CEO of LISCR, says, "Last week the Government of Liberia formally asked for IMF assistance to audit and ring fence revenues from the ship registry. We applaud that, and believe it will reassure shipowners that they can continue to enjoy all the benefits of using the Liberian flag."

The Government of Liberia has approached the IMF because of its experience of working with government finances, and because its independence and status will guarantee that the funds from the registry are seen to be spent in accordance with budgeted domestic policies. Cohen says, "The Liberian Registry has always been structured so that it is run by a U.S. company independent of daily Liberian politics. The United Nations has made it quite clear that it approves that model, and it supports the professionalism of LISCR. It has also made it clear that shipowners should not be encouraged to leave the flag. Bringing the IMF in to monitor the use of the registry revenues extends the transparency which the existing structure provides right through to the final benefits the revenues from the registry bring to both Liberia and the international shipping community."

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Baltic Index Rises for Fifth Consecutive Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday for a fifth straight session on stronger demand across all vessel segments.

Singapore Exchange, Baltic Exchange Continue Transaction Talks

Singapore Exchange (SGX) has agreed with the Baltic Exchange Limited (Baltic Exchange) to extend the period of exclusive discussions regarding a cash offer for

Hanjin to Return 38 Vessels Next Year

Hanjin Shipping is planning to return a total of 38 chartered vessels once their contracts end as part of its restructuring efforts, reports the Korea Herald. A

Passenger Vessels

Ovation Of The Seas Sets Sail From China

Royal Caribbean christened their third Quantum class cruise ship, Ovation of the Seas, to huge fanfare in a ceremony in Tianjin, China.   The event marked the

Crystal Cruises Plans Return to Port Everglades

Crystal Cruises' ships will return to Broward County's Port Everglades beginning in Fall 2017, having last sailed from the port in 2006.   Beginning October 27,

Kiel is First German Port of Call for Mein Schiff 5

The brand-new TUI Cruises newbuilding Mein Schiff 5 has arrived in Kiel – her first German port of call since being handed over in Turku, Finland, a few days ago.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0722 sec (14 req/sec)