Gas Carrier Owners Favour Marshall Islands Registry

The Republic of the Marshall Islands (RMI) Registry remains the choice of flag for owners/operators of the world’s gas carrier fleet, according to RMI.

 
The RMI has registered more than 150 gas carriers over the years, with the first gas carrier registration taking place in 1997.

As of the end of July 2014, there were 120 active gas carriers in the RMI fleet ( 53 liquid petroleum gas (LPG), 65 liquid natural gas (LNG) and 2 LNG/LPG carriers).

Over 15% of the world’s gas carrier fleet, in terms of cubic meters, is registered with the RMI.

“While 75% of the gas carriers in the RMI Registry were built in yards in Korea, Japan and China, more than 25% of the Registry’s gas carriers were delivered from yards located in Japan,” said Masaharu Okamoto, IRI’s Chief Representative in Tokyo.

“Those owners operating vessels registered under the RMI flag achieve consistently high ratings in the port State control (PSC) international rankings,” RMI said in a release.

The RMI Registry continues to be white listed on both the Paris and Tokyo Memorandums of Understanding (MoUs). While the 2013 United States Coast Guard (USCG) Annual Report has not yet been published, the RMI Maritime Administrator received a certificate from the USCG recognizing the RMI’s2014qualification for Qualship 21.

As explained by RMI, “this marks an unprecedented tenth consecutive year that the RMI has achieved this recognition; no other major registry has achieved the same.”

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Press Release, August 7, 2014