Marshall Islands now second largest registry
The Republic of the Marshall Islands (RMI) fleet now stands at 223,262,177 deadweight tons (DWT), making it the second largest registry in the world in terms of DWT. International Registries, Inc. and its affiliates (IRI) have provided administrative and technical support to the RMI Registry since 1990. “This is a very significant milestone for the RMI Registry,” said Bill Gallagher, President, IRI. “A strong legislative framework, customer driven service ethos, and a commitment to quality have all been key to our continued success,” he continued. “From long-standing traditional shipowners, particularly our standing as the number one flag for Greek owners, to a new wave of Chinese leasing companies, the RMI Registry is the registry of choice for owners looking for an innovative and quality driven partner,” he stated. The RMI is not only the world’s second largest registry, but the Greek shipping industry’s leading flag as well. The RMI has been gaining market share year-on-year and the flag today has 791 ships totaling 62,190,301 DWT (over 18.9% of total DWT of the Greek owned fleet) in its registry, making it the largest flag used by Greek controlled ships. "Our office in Piraeus is the second largest of the RMI Registry's 27 worldwide offices," said Theo Xenakoudis, Director, Worldwide Business Operations and Managing Director of the Piraeus office. "Prior to registration, we vet the owner, operator and vessel before acceptance in the RMI Registry and during the vessel's time in the Registry we continue to conduct risk assessments and work with our owners and operators to ensure their vessels meet the Registry's quality standards," continued Xenakoudis.