Liberia fastest-growing flag state for second year

Citing Clarkson’s World Fleet Monitor from mid-December 2020, Liberia said it has outpaced other open registries having grown at 8.06% and 13.8M gross tonnes since January 2020.

Specifically, the registry claims Liberia is the fastest growing flag in Greece (where they are also the largest open registry used by Greek shipping companies), Japan, China, Singapore and the United States.

Liberia International Ship and Corporate Registry chief operating officer Alfonso Castillero said “I am proud of our global team for all their hard work, securing Liberia’s position as the world’s leading flag state. This growth has not only been from newbuildings delivered this year, but from flag transfers thanks to Liberia’s low cost to change flag, and our streamlined processes and procedures.

"Our cost-effective and smooth global services have attracted top-tier owners in all the major shipping markets. We have seen growth not only with our existing clients, but have welcomed in some of the biggest names in shipping who previously worked with other flags but who have now chosen us for our market-leading service and cost-savings.”

Mr Castillero stressed this was not “growth for the sake of growth”, rather the registry has grown its fleet with the addition of top performing and top-quality owners and operators across the world.

“This is responsible growth with industry leaders who want to focus on safety, performance, and environmental stewardship” he said.

Flag transfer tonnage has accounted for 60% of Liberia’s growth in 2020, with owners shifting their tonnage from existing flag states. In addition to welcoming new tonnage, the registry has reduced detentions in key jurisdictions such as in the United States which saw a 68% decrease and climbed higher in the Paris MOU flag rankings.

The registry has adjusted its procedures, embraced a streamlined registrations process, is the first flag to introduce remote closings for ship registration, and the first flag to introduce remote inspections.