Marshall Islands registry soars past 36 million tons, 1,400 vessels

Marshall Islands registry soars past 36 million tons, 1,400 vessels Marshall Islands officials Wednesday said their international fleet registry has surpassed 1,440 vessels, representing more than 36 million gross tons.
   International Registries Inc., the maritime and corporate administrator of the Micronesian nation, also said that more than 25 percent of the 2008 liquefied natural gas newbuild tonnage is slated for the Marshall Islands registry.
   To accommodate the growing demand from Japanese shipbuilders, especially in the southern Imabari region, IRI said it would expand its Tokyo office to provide more services to ship owners.
   Along with the Tokyo offices, IRI and its affiliates maintain locations in Dalian, Ft. Lauderdale, Hamburg, Hong Kong, London, New York, Piraeus, Seoul, Shanghai, Singapore, Washington-Reston and Zurich.
   The Marshall Islands are one of 32 nations identified by the International Transport Workers' Federation as 'flags of convenience,' allowing vessels to be registered for tax, labor and other cost savings reasons.
   While Panama still boasts the largest FOC ship registry, with more than 5,000 vessels, the Marshall Islands have moved past such notable FOC registries as the Bahamas, Cyprus and Malta. Liberia only edges out the Marshals by a handful of vessels.
   The Marshall Islands are also not among the 179 member countries of the United Nations' International Labor Organization, and thus not obliged to abide by the ILO's core labor standards — elimination of forced labor, child labor and discrimination, and respect for freedom of association and right to collective bargaining.