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 Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

China Shipbuilders may Merge to Stay Afloat

The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

Seaspan Takes Delivery of New Containership

Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

Passenger Vessels

Qatar to Contract 6,000 Rooms on Cruise Ships for 2022 World Cup

Reviving an idea to lodge some football fans and guests during the 2022 World Cup in “floating hotels,” the Qatar Tourism Authority (QTA) has announced plans to contract at least 6,

Kvichak Wins Contract to Build Two Ferries

Kvichak Marine Industries, a Vigor Industrial Company, was awarded a contract by the Water Emergency Transportation Authority (WETA), San Francisco, Calif. for

Canada's Ferry Operators Highlight Safety

As Canadians remember the tragic sinking of the Korean ferry, MV Sewol, one year ago today, Canada’s ferry operators remind Canadians of the notable safety track record of its sector.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair
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: 0.1104 sec (9 req/sec)