Liberia secures title for the largest ship registry globally

Panama has held the position of the top ship registry since 1993. However, Liberia, which is governed by the Liberian International Ship and Corporate Registry (LISCR), has seen growth this year, surpassing Panama in terms of gross tonnage (gt). Liberia’s fleet has grown by 5.6% to reach 246.5 million gt, with 5,052 ships. On the other hand, Panama still maintains the lead in the number of vessels, with 8,254, but its total gross tonnage is slightly lower at 244.3 million gt. Another notable difference between the two countries’ fleets is the average age, with Liberia having a younger fleet at an average of 12.6 years, compared to Panama’s average of 19.3 years.

Taking the third position in the top ship registries is the Marshall Islands, with a fleet of 4,231 ships and a gross tonnage of 186.9 million gt. It has experienced a growth of 1.0% in 2023. The average age of the Marshall Islands’ fleet is also lower at 10.6 years.

According to Clarksons Research’s World Fleet Monitor report, the top three flag states are Liberia, Panama, and the Marshall Islands, with respective shares of 16% and 12% of the world fleet. This shift in ranking was not unexpected, as Liberia’s rise to the top was anticipated. The news was received with headlines in Panamanian media, highlighting the fact that Liberia’s CEO, Alfonso Castillero, is Panamanian and had previously held a leading position in Panama’s Ship Registry.

In response to Liberia’s growth, the Panama Maritime Authority emphasized that it has made responsible decisions to adapt the Panamanian Ship Registry to the changing needs of the international maritime industry, ensuring continuity and sustainability in the business. The authority pointed out that they were able to reverse a decline in the registry and achieve positive growth. They also highlighted improvements in tonnage retention and a decrease in cancellations. They mentioned their commitment to managing the fleet in a responsible manner and prioritizing the interests of the country.

Source .