Liberian-Flag Fleet Doubles in 10 Years

(Press Release)
Tuesday, February 01, 2011

The Liberian-flag fleet posted record growth figures in 2010 and has now doubled in size in the ten years since the management of the Liberian Registry was assumed by the US-based Liberian International Ship & Corporate Registry (LISCR).

The Liberian-flag fleet was boosted by 586 new registrations last year. Of these, 149 were newbuildings. Net growth was 338 vessels, aggregating 13.6m gt. The average age of the 586 new registrations was 5.46 years, compared to the 17.32 average age of those vessels removed from the registry. The average age of the Liberian-flag fleet is now just 12 years.

Scott Bergeron, Chief Operating officer of LISCR, says, “The phenomenal growth under LISCR management is testament to the quality of service and responsiveness provided by the Liberian Registry. Furthermore, throughout the course of this rapid expansion, Liberia’s Port State Control performance and its safety record with all independent rating bodies has been outstanding. We will continue to seek further selective, planned growth of our quality fleet, the average age of which is falling significantly as more and more owners join the registry”.

Liberia passed the 3,500-vessel mark with the registration of the 319,000 dwt oil/ore carrier G Whale, built by Hyundai Heavy Industries in Korea to Lloyd’s Register class for operation by Today Makes Tomorrow (TMT) Shipping of Taiwan. Bergeron says, “We are delighted to share this milestone registration with Mr Nobu Su’s innovative company, TMT, and are particularly satisfied to see continued growth in our Far East client base.”

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