Liberia has become the
second largest ship registry in the world, shipping analyst Clarksons said in
its January 2019 World Fleet Monitor.
report confirms that, in gross tonnage terms, Liberia has overtaken and
outgrown the Marshall Islands, which is now in the third place.
“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 8.0% – more than twice that of most other open
flags,” Alfonso Castillero, CCO of the Liberian International
Ship & Corporate Registry (LISCR), the US-based manager of the Liberian
“There are a number of reasons for this,
not least a growing recognition on the part of major shipowners and managers
that Liberia, more than any other flag state, is able to combine increased
safety and efficiency with reduced costs.”
“Owners and managers have also been
shifting their fleets to Liberia because of the huge cost savings available
under the historic agreement on port dues with the People’s Republic of China.
This agreement, which was recently renewed, can result in savings to owners of
millions of dollars,” Castillero added.
further explained that the detention rate for Liberian-flagged ships was down
in key jurisdictions in 2018, especially in areas such as China where other
flags saw a rise in their detention rates. The lower detention rate of the
Liberian-flagged ships was attributed to the success of the country’s
complimentary Detention Prevention Programme.
largest ship registry in the world remains Panama, with a total of 7,072
registered vessels, followed by Liberia with 3,726 and the Marshal Islands with
3,719 ships, according to data provided by VesselsValue.