Two old foes have traded places in the ship registry league. Liberia has returned to second spot behind Panama, overhauling the Marshall Islands, according to the latest data from Clarksons Research World Fleet Monitor.
The senior management behind International Registries, Inc, which administer the Marshall Islands were in charge of the Liberian flag until the turn of the century.
As of January 1 this year, Panama has a 16% market share of the global registered fleet in gt terms, Liberia sits on 12% with the Marshall Islands on 11% (see chart below).
Alfonso Castillero, chief commercial officer of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, said in a release, “This is about quality of service, not discounted rates.”
Castillero continued: “The Liberian fleet was the fastest growing major open flag in both the shipping and offshore sectors in 2018, and currently has a growth rate of 8% – more than twice that of most other open flags.”