Palau International Ship Registry has become the fastest growing flag in the shipping world with an impressive 43.2% growth in the number of vessels joining the registry since 2013 according to Fairplay magazine, PISR said in its press release.
Recording strong growth that puts it well ahead of other expanding registries such as Portugal, Saudi Arabia and the Cook Islands, Palau has attracted significant numbers of tankers into its fleet along with Ro-Ro vessels, bulk carriers and offshore ships. Tankers currently comprise just under half of Palau’s fleet and Panos Kirnidis, CEO of Palau International Ship Registry, sees this as a growth area.
Palau International Ship Registry introduced a new Deficiency Prevention System (DPS) at the end of 2016 as part of its drive to a leading technological registry. This consists of a dedicated department monitoring all ships under the Palau flag to reduce deficiency and casualty rates. PISR Flag State Inspectors (FSI) network works with the DPS to ensure vessels remain at sea and are not detained in ports for often the most trivial of reasons.
About Palau International Ship Registry
The Palau International Ship Registry (PISR), an open registry headquartered in Houston, USA and has its European head office in Athens, Greece. PISR was created by an amendment to the Title 7 of the Republic of Palau National Code in 2010 and was appointed by the Government of the Republic to carry out the day-to-day management of vessels registered to the flag as the Ship Registry Administrator.
• PISR provides full administrative and technical support to the registration of vessels.
• PISR is an active member of both the IMO and ILO and is a member of BIMCO, WCPFC.
• Compact agreement of Free Association (COFA) with USA