Liberian Registry feels owners’ pain, Ship registry announces fee cuts, new rules to deal with downturn

LIB1The second most widely used ship registry by tonnage introduced cost-savings measures in a bid to ease the financial strain on owners and operators, as well as entice more ships to its flag state.

The Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian flag, said it will waive the certification and mortgage-related fees for registration transactions in Liberia, as well as the fees for the reissuance of safety and port facility certificates for vessels transferring to the registry.

Shipowners will also be able to pay tonnage tax on a bi-annual instalment plan, rather than an annual lump-sum payment, upon request.

Any owner that registers a vessel for the purpose of immediate lay-up, LISCR said it would waive a variety of fees and tonnage taxes through the duration of the lay-up.

LISCR also said some owners can apply to extend dry dock periods from every five years to every seven-and-a half years. The less frequent dry dockings apply to ships not subject to the International Maritime Organisation’s enhanced survey programme.

Scott Bergeron, chief executive of LISCR, says: “We believe it is essential to support the shipping industry during these extremely difficult times. The initiatives we have announced supplement those cost-efficiency measures which are already available to Liberian-flag vessels.”

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About Cholo Brooks 13357 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.