Private Equity Boosts Liberia Shipping Market
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.”

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


Saudi Shipper Bahri Q3 Net Profit Rises

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 501 percent increase in third-quarter net profit on Tuesday.

Noreco CEO Quits

Norwegian Energy Company ASA (Noreco) announces that Tommy Sundt is stepping down as CEO of Noreco ASA. Since joining Noreco in September 2014, Tommy Sundt

BSM Completes Global Management Program

Bibby Ship Management has successfully completed its second Global Management Programme which, it says, has helped to develop the management skills of all its


Dredges Work to Restore National Wildlife Refuge

Dredges are currently being used in a large tidal marsh restoration project at Prime Hook National Wildlife Refuge in Delaware, one of the largest ever marsh restoration projects in the eastern U.

Thordon’s COMPAC for US’ Largest Containerships

Thordon Bearings has signed a contract to supply COMPAC seawater-lubricated propeller shaft bearing solutions to two Jones Act containerships under construction at the Aker Philadelphia Shipyard Inc.

SAAM SMIT Towage Orders Damen ASD Tug

SAAM SMIT Towage, a joint venture between SAAM S.A. of Chile and Dutch company Royal Boskalis Westminster N.V., has signed a contract for the purchase of a Damen Tug 2913 for delivery in early 2016,

Maritime Careers / Shipboard Positions Navigation Offshore Oil Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.2671 sec (4 req/sec)