Japan plays role in Marshall Islands’ fleet growth

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marshallislandsw

Japanese ship owners, shipyards and ClassNK continue to play a major role in the growth of the Marshall Islands Registry, which is now the world's third largest open registry with more than 2,100 vessels and over 56 million gross tonnes.

International Registries (IRI), which administers the Marshall Islands flag and registration activities, recently conducted a seminar in Imabari, Japan, with representatives from the Hong Kong, London, Piraeus, Seoul, Tokyo and Washington.

"Seventy percent of the tonnage now entering the Marshall Islands Registry is newbuilding tonnage and this tonnage is coming out of yards in Asia," said Theo Xenakoudis, Managing Director of IRI's Piraeus office.

"Japan is the third largest shipbuilding country contributing to the Marshall Islands and of this newbuilding tonnage coming into the registry, 23 percent is owned/operated by Greeks."

Greece continues to represent the number one position on the registry.

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