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Palau Shipping Registry Launches With Cruise Ship Client

by Mary Swire, Tax-News.com, Hong Kong

02 November 2012


The Palau International Shipping Registry has officially opened its doors following a launch ceremony which saw the registration of its first two vessels, the cruise ships Amusement World (12,764 Gross Registered Tonnage (GRT)) and Leisure World (15,653 GRT) operated by Universal Ship Management.

Despite the territory's diminutive size, with a population of just 22,000, the Registry is aiming to punch well above its weight, and has already signed up to the most significant major shipping conventions, including: the International Convention for Safety of Life at Sea; the International Convention for the Prevention of Pollution from Ships; the Safety of Training, Certification and Watchkeeping; the Bunker Convention; the Civil Liability Convention; and the Maritime Labour Convention 2006, among others.

The Republic of Palau consists of eight principal islands and more than 250 smaller ones lying in the western Pacific, with maritime boundaries with Indonesia, Philippines and the Federate State of Micronesia. The Registry is headquartered and administered in Houston, USA.

Noting the Registry's commitment to the highest international standards, the President of Palau, Johnson Toribiong said at the launch: "In announcing the opening of the Palau International Ship Registry for business, we are committed to ensuring the safety of our fleet personnel and passengers, ensuring protection of environment by which our fleet traverse, and ensuring peaceful voyages of our fleet, reflective of the Republic of Palau and her flag. We are proud to say that the Palau International Ship Registry is not just another ship registry, but, a ship registry of the highest standard."

Keith Lai, Executive Director of Universal Ship Management Pte Ltd, said: "We decided to change the flag of the two passenger ships that we manage, Amusement World and Leisure World, to the Palau International Ship Registry because we wanted a flag that would represent quality, expertise and professionalism and also provide a fast, efficient and reliable service."

TAGS: marine

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