Liberian Registry

ALL FLAGS ARE NOT ALIKE

The Liberian Registry is comprised of 5,000+ vessels aggregating over 200 million gross tons, representing 14 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. The Liberian Registry 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 voice for shipowners at IMO.

The Liberian Registry 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 ships and corporate registries in the world.

The Registry 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.

The Liberian Registry has built a global infrastructure of support and provides 24-hour service to its shipowners and managers anytime and anywhere in the world. In addition to its 28 full-service global offices located in the major maritime centers of the world, the Liberian Registry is the first and so far, the only major open registry to have trained a worldwide network of more than 450 professional nautical inspectors and qualified auditors. The Registry provides convenient, efficient and cost-effective certification services to shipowners with the option of Liberia’s unique “Harmonized Audit Program” which includes the Annual Flag State Inspection, ISM, ISPS, and MLC, 2006 requirements.

The Liberian Registry, headquartered in Dulles, Virginia (outside Washington, D.C.) maintains a full network of global offices that provide full service from key maritime centers.

Ship Financing – The mortgage-recording regime of the Liberian Register is internationally recognized and acceptable to banks from many jurisdictions, allowing the best opportunity to obtain the most favorable financing.

Ease of Registration – The pre-registration formalities are user-friendly, and designed to meet international standards in relation to safety and documentation but not to delay operations. Registry staff is available to assist with the registration process and to explain our procedures. Bareboat registration in and out is permitted and no restraints are placed on a ship wishing to transfer out of the register.

Innovative Services – The most notable advantages of the Liberian Registry include a set of unique tools which allow greater operational flexibility for shipowners in comparison to the other Flag States. Shipowners find that the following innovative services, available through the Registry’s global network, save them time, money, and personnel resources:

First-Class Customer Service – The Liberian Registry is administered by the U.S. - owned and operated company and managed by industry professionals who understand the business of shipping. While eliminating bureaucracy, the Registry has found the right mix of customer attention and policy enforcement. Likewise, significant investments in technology are being made to ensure superior service and convenience. In addition to the Registry’s worldwide self-supporting offices, ensuring service 24 hours, 7 days a week, there is also a network of over 400 nautical inspectors, who are available to attend vessels when needed.

Asset Protection/Ownership Flexibility – Unlike many national registers, the Liberian Registry recognizes the need and actively protects the opportunities for asset protection. The Corporate Register of Liberia allows the use of and maintains the integrity of single-purpose corporate vehicles. Likewise, the Corporate Register must continue to offer flexible corporate vehicles to ensure that specific ownership options are available to meet the needs of the multitude of ship-owning structures.

Tax Sensible Jurisdiction – Vessels in the Liberian Registry have taxed annually with a fixed fee based on the net tonnage of the vessel. Similarly, Liberian Corporations have a fixed annual tax. Taxes on operations and profit are not assessed.

Double Taxation Treaties – Double taxation is avoided in nearly all major shipping business areas due to tax recognition treaties established between Liberia and most countries.

Acceptable Flag for EU Tonnage Tax Schemes – The Liberian Flag is an acceptable choice for many of the new Tonnage Tax Schemes currently being offered in the EU, including the UK, German, and Dutch tax systems.

Depreciation Principles – Ocean shipping requires the use of capital-intensive investments. Due to the varying market conditions and demand for ocean transportation services, many ship-owners have difficult years without profit. With recognition of alternative jurisdictions, Liberia offers depreciation alternatives not available with most national registers. This in turn allows flexibility with respect to Profit & Loss reporting.

Vessel Surveys – The Liberian Registry recognizes the overlapping requirements inherent to classification rules and international standards. Classification societies have significant representation throughout the world and are a source of tremendous vessel structure and technical expertise. Liberia has authorized qualifying classification societies to conduct the full range of statutory surveys during attendance for routine classification surveys. Qualifying classification societies are not restricted to a particular national society. This provides cost savings, reduction of bureaucracy, and operational/scheduling flexibility for shipowners.

Safety and Quality Reputation – Year in and year out, the independent statistics of underwriters, Port State Control Authorities, seafarer advocates, and salvage institutions all recognize Liberia as having a quality reputation of standards. This is routinely demonstrated by Liberia’s above-average performance in the indicators of safety and accident prevention as well as in independent statistical reports.

Security – The post-9/11 world has brought new responsibilities for commercial shipping and maritime administrations. The Liberian Registry has been on the leading edge of the development and implementation of the IMO’s ISPS Code. Liberia believes in a practical and low-cost approach to ensuring security-conscious shipping. A network of approximately 100 security inspectors attends vessels when needed.

Adoption and Enforcement of International Regulations – Participation in the UN bodies of the International Maritime Organization and the International Labour Organization is another important factor for respectable ship registries. Liberia is known for its international involvement in ensuring the development of practical new regulations when necessary. Likewise, Liberia ratifies important conventions, enacts domestic legislation in support of safety, pollution prevention, and seafarers’ welfare, and ensures equitable enforcement of these scriptures.

Liberian Shipowners' Council (LSC) – Liberia is one of the few open registries with an independent shipowners' council. The LSC provides member ship-owners with a venue to monitor and address problems facing the industry and to share and exchange information and ideas. The LSC is also a member of the International Chamber of Shipping, and the International Shipping Federation (the only maritime employer association that can represent shipowners at the International Labour Organization). As such, Liberian Shipowners are able to benefit from the valuable services of this leading industry institution.

Pricing – The Liberian Registry offers professional service at a competitive price. Savings realized by the use of technology are passed back to clients on the Registry.

Vessel Construction – The Liberian Registry does not require vessels to be constructed by a particular nation. The supplies for construction and outfitting are also free from similar restrictions. Without this type of protectionism, shipowners are allowed to search and solicit shipbuilders solely on commercial considerations, such as competence, experience, and price.

Vessel Manning – Manning requirements specified by the Liberian Registry are based exclusively on competence, international recognition, and safe operation. Many national registries require manning by citizens of the country of registry. This promotes higher wages, inflated labor costs and overheads, excessive bureaucracy, and the potential for interference from organized labor.

Top Registry – The Liberian Registry has more than doubled in size over the past fifteen years. At the same time, it has strengthened its position as one of the safest and most quality-conscious flags in the world, consistently featuring in the White Lists of all independent arbiters of ship safety such as Port State Control and the U.S. Coast Guard. The best performing registries – which include the Liberian Registry – are on the “White List.” Mid-ranking registries are grouped on the “Grey List.” The poorest performing registries are placed on the “Black List.”

First In Safety – Vessel safety is a top priority for the Registry. Liberia has a worldwide network of specialty trained nautical inspectors who can perform so called “Harmonized” Audits to ensure vessel compliance with both the International Safety Management (ISM) and International Ship and Port Security (ISPS) Codes.

First in Security – The Registry is at the forefront of new security measures. It pioneered the shipboard security manual that has been adopted throughout the world and it has been recognized as a world leader in the implementation of the IMO’s International Ship & Port Security Code (ISPS). The Registry has pioneered safeguards to eliminate fraudulent applications for crew certification and to reduce the illegal duplication of crew documentation. To further enhance security, the Registry developed the world’s first biometric identity card for seafarers. These steps significantly improve security and are immensely helpful for shipowners and immigration authorities. The Registry has also expanded its computer system to file and maintain electronic documents, and it is enhancing relations with maritime colleges and flag administrations that issue certificates to further combat fraud and speed-up the documentation process.

Leading on the Environment – The Registry is also focused on providing sensible opportunities for shipowners to reduce their environmental impact. As part of its ongoing commitment to environmental excellence, the Liberian Registry has entered into a partnership with Ursus Maritime Capital, a U.S. based specialty ship finance firm, 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.

Seafarers’ Welfare – An often-overlooked aspect of international shipping is the welfare of the seafarers serving onboard ships. The well-being of seafarers serving on Liberian registered ships is an important concern of the Registry. Liberia has enacted and enforced the International Labor Organization (ILO) conventions that protect the rights of seafarers. In fact, Liberia was the first country to ratify MLC 2006, and it consistently led the way in pushing for overall ratification. Seafarers can bring claims through the courts in any appropriate jurisdiction (including the U.S.), and are not limited to the courts in Liberia.

The Liberian Registry has taken additional steps to uphold the rights of seafarers by enacting repatriation requirements into its maritime laws and enforcing its provisions to protect seafarers, including mandatory P&I insurance coverage to ensure that owners are in a position to honor their obligations in respect to crew repatriation. More than two-thirds of the ships in the Liberian Registry operate with an International Transportation Federation (ITF) approved Collective Bargaining Agreement and provide significant contributions to the ITF welfare fund.