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Crunch on Asian yards prods IRI to open Dubai office

Crunch on Asian yards prods IRI to open Dubai office

Dubai: International Registries, Inc. (IRI) and its affiliates, the Marshall Islands Maritime and Corporate Administrators, are to open three new offices in early 2009 in Dubai, Houston and Istanbul to avoid the backlash from the credit crisis at Chinese shipyards. "Although we are not too affected by the Asian downturn at this stage because there was a great deal of financing in place for 2008-2009 newbuilds, we cannot be as assured about 2010," IRI president Bill Gallagher told SeatradeAsia-Online. "With more tonnage coming out of the Middle East and the Mediterranean, it is critical that the Registry further extends its reach to better assist local clients in these areas."

"Not only will more offices be opening, but additional staff will be positioned in our Roosendaal, Piraeus and Hong Kong offices to provide continued support to the growing fleet and address the technical and marine safety issues that arise on a day-to-day basis," he continued. The register, which is celebrating its 60th anniversary and opened branch offices in Baltimore and Geneva this year, will also launch an initiative next year from its Mumbai office to conduct examinations and issue certificates of competency for seafarers.

Since 2000, the Marshall Islands fleet has grown at an average rate of 23%.  As of mid-November, the Registry grew to over 1880 vessels and 43.9m gt.  With a commitment of more than 345 vessels (45 Korean, 100 Japanese, 50 Middle-Eastern and 150 the Mediterranean) entering the Registry over the next three years, along with the tonnage coming from Northern Europe, the Registry anticipates reaching 50m gt by 2010.  [21/11/08]