The Marshall Islands registry reaches 40 million gross tons
The Marshall Islands fleet registry has passed through the 40 million gross ton mark, with a total of 1,736 vessels in May.
International Registries Inc. (IRI), the maritime and corporate administrator of the Micronesian nation, said the registry has more than doubled in less than five years. At the end of 2003 the registry stood at 18.5 million gross tons and 626 vessels.
IRI said the largest share of the registry's tonnage is from the United States, Greece, Germany and Norway. It added that markets in Italy, Turkey, Japan and other areas in Asia have been opening up over the last year.
The registry will this month open new offices in Geneva, Switzerland and Baltimore, Md.