Liberian Registry becomes preferred global tanker flag

The Liberian Registry has become the preferred tanker flag in the world, with the recent addition of 2.7 million gross tonnes of new tankers.

The Liberian Registry, with a total fleet size of 205 Million GT, has grown to be one of the world’s leading tanker flags, and its tanker fleet now encompasses 57.4 million GT according to Clarksons.

It has also maintained its position as a containership flag with 18% of global container vessel market share; and is the fastest-growing major registry in the world with a 6.6% growth rate year–to-date.

This overall fleet growth has largely been due to an increase in newbuilding orders recently delivered, especially with larger modern dual-fuel vessels, oil tankers, liquefied natural gas (LNG) carriers, and mega containerships. 

Aiding in the high volume of vessels flagging into the registry has been a streamlining of registration processes and the increasing ease with which vessels, both existing and newbuildings, can be flagged into the registry.

“I am very pleased to see the Liberian Registry move into the leading position to be the preferred flag State for tanker owners and operators around the world.  This is no accident.  Our commitment to safety, compliance, and bringing cost-savings to the Liberian flagged fleet are huge contributing factors,” Alfonso Castillero, Chief Operating Officer of the Liberian International Ship and Corporate Registry (LISCR) commented.

“This is a great development for the Liberian Registry globally, and especially here in Greece where Liberia is the top flag for Greek shipowners.  The majority of this new tanker tonnage we have registered in Liberia is directly from Greek shipowners,” Michalis Pantazopoulos head of LISCR’s Greek office stated.

Benson Peretti, Executive Vice President at LISCR pointed out that the registry is continuously improving safety rankings, the detention prevention program and global network of localized support. 

“What is also so encouraging about this development is in the type of technologically advanced and fuel efficient vessels we have been registering,” he added.

The Liberian Registry was the first ship registry to join Neptune Declaration on Seafarer Wellbeing and Crew Change. The signatories of the declaration have committed to improving seafarers’ position in the maritime industry, working also on problems related to the crew change crisis caused by COVID-19.