Did President Weah’s Emissary, Nathaniel McGill Quest to Beg LISCR for Loan Fail?
Source closed to the headquarters of the Liberian International Ship & Corporate Registry (LISCR) headquartered in Dulles, Virginia (outside Washington, D.C.), the United States of America and confided in the GNN, but is yet to be confirmed, has disclosed that Mr. Nathaniel McGill, Minister of State for Presidential Affairs of Liberia quest to prevail on LISCR authority for an extended loan for Liberia on behalf of the Liberia Maritime Authority in order to defray some of the CDC-led government’s financial obligation has allegedly been turned down.
Recently President George Manneh Weah empowered Minister McGill to call on authority of LISCR for a possible arrangement of a proposed advance loan in the millions to the Liberian government in order to shoulder some of its financial obligations including the settlement of civil servants salaries which payments are overdue, but unfortunately the emissary of President Weah, Mr. Nathaniel McGill has reportedly been turned down due to unexplained reasons put forward by authority of LISCR.
Our source further disclosed that the meeting between both Minister McGill and officials of LISCR which was held behind closed door which in the United States, has since been closed without any tangible result to appease the Liberian Chief Executive, President George Manneh Weah. It is not however known as to whether another arrangement has been made to conclusively bring remedy to the quest of the Liberian leader.
The Liberian Registry is comprised of 4,400+ vessels aggregating over 170 million gross tons, representing 12 percent of the world’s ocean going fleet. Liberia has earned international respect for its dedication to flagging the world’s safest and most secure vessels, and is recognized at the top of every industry “white-list” including the International Maritime Organization and the major Port State Control authorities. As a founding member of the International Maritime Organization (IMO), Liberia has taken a leading role in global shipping at a very early stage and continues to be a member of the IMO Council.
It is administered by the Liberian International Ship & Corporate Registry (LISCR, LLC), a private U.S. owned and globally operated company. LISCR is internationally recognized for its professionalism and commitment to reducing redundant workflow procedures in order to increase efficiency. The Registry is managed by industry professionals who understand the business of shipping and corporate structures. Its proficient administration is one of the most effective and tax efficient ship and corporate registries in the world.
It also has experienced exponential growth in fleet size and registered tonnage throughout its long history. This year, Liberia is the fastest growing major open registry in both the shipping and offshore sectors, with a growth rate significantly higher than its nearest competitors.
As part of its ongoing commitment to environmental excellence, the Liberian Registry (LISCR) has entered into a partnership with U.S. based specialty ship finance firm, Ursus Maritime Capital, to launch an innovative environmental retrofit finance program designed to reduce global carbon emissions, enhance fleet efficiency and competitiveness, and promote a greener Liberian fleet.
The Liberian Registry is also offering special tonnage tax discounts for ships participating in this green initiative. Each ship will be entitled to a 50 percent annual tonnage tax discount in the first year, and up to a 25 percent discount in both the second and third years.