Marshall Islands Launches New Pricing Scheme for Big Ships

Tuesday, September 03, 2002
The Marshall Islands register has introduced a new pricing scheme to increase its competitiveness in big ships types such as Capesizes and VLCCs. The scheme came into effect on September 1, 2002. "We reduced annual tonnage tax three years ago from .25 a gross ton to .20 a net ton, and now we have launched an alternative scheme that is more favourable for the big ships", said Bill Gallagher, president of International Registries, Inc., which runs the register. He said the register would reach 15 million gross tons and 500 vessels by the end of 2001, and 20 million tons gross by 2004. He said electronic recording of mortgages, the absence of hidden costs like consular fees and low cost seafarers documentation were aiding the rapid growth. "The register is dominant in the U.S. market, but fast growth is coming from Greece and Germany, with over a hundred vessels", he said.

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

People & Company News

Xeneta: No Silver Lining for Container Shipping in Brexit Storm

Xeneta, a  global benchmarking and market intelligence platform for containerized ocean freight, believes that the UK’s decision to leave the European Union will

PALFINGER Finalizes Harding Acquisition

The PALFINGER Group closed the acquisition of 100 percent of the shares in Herkules Harding Holding AS, i.e. the globally operating Harding Group, supplier of lifesaving

ClassNK Amends IGC Code Rules and Guidance

Classification society ClassNK has amended its Rules and Guidance for the Survey and Construction of Steel Ships in response to the latest industry developments,

New Products

Advanced MacGregor Technology for Polar Research Ship

MacGregor, part of Cargotec, has won an order to supply MacGregor offshore cranes and a Triplex handling system for a 14,300gt polar research vessel being built

Groningen Seaports First in Line for Damen InvaSave

The first production version of Damen’s InvaSave ballast water treatment system – intended for use at Groningen Seaports – will be on display at the upcoming ‘DelfSail’

First MAN D2676 Workboat Engine Ready for Launch

Last December, MAN Engines introduced its latest generation in-line six-cylinder engines for workboats. Now the first MAN D2676 LE443 engine off the production

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics Ship Simulators Winch
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: 0.0862 sec (12 req/sec)