THE HELLESPONT Group has switched the registry of one of its fleet of modern product and chemical carriers to the German flag. Explaining the decision to reflag the 2007-built, 13,000 dwt oil/chemical tanker Hellespont Credo from the Liberian to the German registry, Hellespont Group CEO Christian von Oldershausen says, “The reflagging of the Hellespont Credo is not an indication of any dissatisfaction with the Liberian Registry which, together with the Marshall Islands, has traditionally been the register of choice for Hellespont vessels. Rather, it underlines Hellespont’s recognition of the commitment given by the German shipowning community to the German government to support the national registry, and thereby preserve the advantages of the German tonnage tax system.”
Mr von Oldershausen adds, “The reflagging will involve certain additional costs for Hellespont in meeting the particular requirements of German law relating to the employment and welfare of crew on board vessels under the national register, but it is a price we are prepared to meet. The German Shipowners’ Association has in fact pledged to reflag one hundred additional ships to the national registry by the end of 2008, and Hellespont is considering reflagging another of its vessels later this year, or early next year.”
Hellespont currently operates fifteen new crude, long range product and chemical tankers and also has six platform supply vessels and eight 17,000 dwt chemical carriers on order with delivery dates out to 2010.