Private Equity Boosts Liberia Shipping Market

MarineLink.com
Friday, April 11, 2014
Scott Bergeron

The Liberian Registry says the entry of private equity funding into the ship finance market is helping to sustain its continued growth.

Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the U.S.-based manager of the Liberian registry, said, “Owners are ordering ships again, and there is a great deal of private equity funding entering the market, in the U.S. and elsewhere, which is filling the shortfall created by a reduction in traditional bank finance for shipping. Liberia has the second-highest share based on market capitalization of shipping companies listed on the US stock exchange, behind only the U.S. Well-informed private equity investors recognize Liberia’s pedigree in shipping, and understand that it is a key player in the market.

The Liberian Registry continues to grow with the addition of ships from both existing and new owners. The fleet now stands at approximately 4,000 ships, aggregating 136m gt and over 207m dwt, which is nearly 40% larger than its closest rival, Marshall Islands.

Bergeron continued, “We have stood by our owners during what has been a difficult five-year period, and now we are starting to see a recovery in the market.”

Greek interests are playing a major role in publicly traded U.S. companies, and figures released by the Greek Shipping Cooperation Committee (GSCC) show that, in deadweight terms, 17 per cent of Greek-controlled ships were registered under the Liberian flag at end-March, 2014 - second only to the Greek national flag itself. This is an increase of 3.5m dwt on last year. A total of 678 Greek-controlled ships, aggregating 49.05m dwt, are currently registered with Liberia, compared to 819 vessels aggregating 76.11m dwt flying the Greek flag.

Scott Bergeron said, “Liberia and Greece share a strong maritime tradition of successful co-operation dating back 65 years to the birth of the Liberian Registry. It is a source of great satisfaction to know that Greek owners still value the efficiency, safety and responsiveness of the Liberian flag administration.”

liscr.com
 

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

Light at the End of the Tunnel Distant for Multipurpose Shipping

The demand outlook for the multipurpose fleet has not improved since the first quarter of 2016. The breakbulk and project cargo sector remain weak, with little

Star Bulk Carriers Reports 1Q Loss, Adds 3 Vessels.

The Athens, Greece-based Star Bulk Carriers Corp. (SBLK) has reported a loss of $48.8 million in its first quarter. The shipping company posted revenue of $46.

Jinhui Sells Supramax

Jinhui Shipping and Transportation has agreed to sell another supramax dry bulk carrier, having just made a similar deal earlier this month.   The purchaser is a company incorporated in Hong Kong.

News

Light at the End of the Tunnel Distant for Multipurpose Shipping

The demand outlook for the multipurpose fleet has not improved since the first quarter of 2016. The breakbulk and project cargo sector remain weak, with little

VLCC Delivered to Gener8 Maritime

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, has taken delivery of the ECO VLCC the Gener8 Constantine on June 27,

COSCO Says Piraeus Port Sale Terms Inconsistent with Deal

COSCO Greece objected on Wednesday to terms submitted to parliament for the sale of Piraeus Port to China COSCO Shipping, saying they were inconsistent with those

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Sonar
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: 0.1083 sec (9 req/sec)