Liberian Registry's contract deal

LIBERIA’S government might have succeeded in securing more money from the nation’s growing ship register.

“It’s my understanding it [the government] got a larger figure,” a register industry source told Fairplay.

When Fairplay phoned the Liberian Embassy in London to speak to George Arku, minister plenipotentiary of maritime affairs, an embassy representative could not confirm or deny whether the government’s contract with the Liberian International Ship & Corporate Registry (LISCR) had been increased, saying only “ring back Monday”.

It is known that Liberian President Ellen Johnson-Sirleaf was not satisfied with the register contract, having complained to Fairplay that “we need a larger share”. The ship register confirmed at the time that a new contract figure was being negotiated.

The information obtained by Fairplay follows the Liberian registry’s announcement today that its contract has been extended for another decade.

Yoram Cohen, CEO of LISCR, expressed delight at the extension and said the agreement confirms the “spectacular” progress made by the register.

Under LISCR management, the register has grown in size from 1,700 vessels of 53Mgt to more than 3,000 vessels of almost 90M gt, which the register said are the highest totals in its 60-year history. LIBERIA’S government might have succeeded in securing more money from the nation’s growing ship register.

Source:Fairplay