Liberia Overtakes Panama -As World’s Largest Ship Registry

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Liberia has overtaken Panama to be the world’s largest ship registry in gross tonnage, according to a Clarksons Research Report.

Panama has occupied the top spot since 1993, and as Liberia being determined to surpass Panama after being at the second spot for many years, it has overtaken Panama to sit at the top of the largest ship registry on the globe.

Liberia, administered by Liberian International Ship and Corporate Registry (LISCR), has grown up to 5.6 percent this year to 246.5 million (gross ton (gt), with 5,052 ships touring the world with the Liberian flag, making it the only country to have such a registry.

Panama, which has dropped to the second spot, has about 244.3 million gt.

According to the research, it further noted that Liberia’s age of the fleet is younger at 12.6 years while Panama is 19.3 years.

However, the top ten flag States are as follow: Liberia, Panama, Marshall Islands, Hong Kong, Singapore, Peoples Republic of China, Malta, Bahamas, Greece and Japan.

 

The Research, in addition, unveiled that the world fleet further put Liberia and Panama at 16 percent and that the Marshall Islands with 12 percent.

Notably, the milestone of Liberia to sit at the top of the scale doesn’t come as an astonishment and that it was expected but was received with headlines in Panamanian media.

Liberia, as a Maritime nation in the mid-nineteenth century, had a sailing fleet and it was a striking feat because many of her 300 sailing ships were constructed and wholly-owned by Liberia.

This became a significant factor in the West African nation’s economy at that time.

While Liberia has been considered by traditional maritime states as upstairs in world shipping, it is worth mentioning that she has had a minor maritime tradition of its own and therefore it is unfair to call Liberia a non-maritime nation.

The Liberia Maritime Authority (LiMA), as one of the highest contributors to the National Budget, with this great feat being achieved by the entity, stands to benefit the country economically.

In one of Commissioner Lenn Eugene Nagbe’s recent interviews, he assured that Liberia was going to become the largest ship registry position because of the mandate given to him by Pres. George Manneh Weah, who has placed key emphasis on occupying the top spot.

“We are increasing the size of our registry. One of the mandates the President gave me when he appointed me is to ensure that Liberia becomes the number one in the world. We are number two now next to Panama. I am working very hard for that first place to happen,” Commissioner Nagbe stated.

It was during the same time that he disclosed the contribution to the national budget, saying that the entity has been one of the immense contributors to the country’s budget and economy and further unveiled that last year, the LiMA contributed over US$30 million.

He then vowed to make an increment of that amount.

So, with this feat now, there is room for more budgetary support and also to the economy, as Liberia has become the largest ship flag flying nation, and this is believed to be a gain for the country and the people of Liberia.

Clarksons Research are global leaders in the provision of data, intelligence and insights across all aspects of shipping and trade. It also helps and supports the workflows and decision-making of shipping companies and others.

Source: LINA

 

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