The Republic of the Marshall Islands (RMI) Registry has become the Greek shipping industry’s leading flag, according to data released by IHS Markit. The RMI has been gaining market share year on year and the flag today has 791 ships, of 62,190,301 deadweight tons (DWT) (over 18.9% of total DWT of the Greek owned fleet) on its register, making it the largest flag used by Greek controlled ships. The past 12 months have seen 74 ships join the registry.
“We are delighted by these results,” said Theo Xenakoudis, Director, Worldwide Business Operations and Managing Director of International Registries, Inc (IRI) Piraeus office. “Our success is down to our service oriented philosophy and ability to attract quality owners.”
The RMI applies stringent standards, vetting the owner, operator and vessel prior to acceptance; conducts risk assessments during the vessel’s time in the Registry; and works with owners and operators to ensure that their vessels meet the Registry’s quality standards.
Theo Xenakoudis added, “we are delighted that our Greek owners and operators continue to hold the RMI Registry in such high regard which has been reflected in the Greek Shipping Co-operation Committee’s March 2017 Greek Controlled Shipping Report which shows the RMI as the number one choice of flag for Greek owners and operators.”
The RMI Registry’s office in Piraeus is the second largest of the Registry’s 27 worldwide offices.
Overall the Greek controlled fleet has increased in terms of DWT and GT. According to IHS Markit data, as of 1 March 2017, Greek interests controlled 4,085 vessels totalling 328,763,767 DWT and 192,430,519 GT. Compared with the previous year’s data, this represents a minor decrease of seven vessels, but an increase of 8,166,193 in DWT and of 3,526,325 in GT. The figures include 196 vessels, of various categories, of 12,338,624 DWT and 20,602,634 GT, on order from shipyards.
Click here to download a copy of the Greek Shipping Co-operation Committee’s March 2017 Greek Controlled Shipping Report.