IRI tips hat to Japanese and Greek contributions to fleet growth

Tokyo: Japanese shipowners, shipyards and ClassNK continue to play a major role in the growth of the Marshall Islands Registry, which is now the world's third largest open registry with more than 2100 vessels and over 56 million gross tons. "Japanese shipowners are currently the sixth largest shipowning group in the Registry while Greek shipowners represent the number one position," said Bill Gallagher, President of IRI.

Theo Xenakoudis, Managing Director of IRI's Piraeus office went on to say that "70% of the tonnage now entering the Marshall Islands Registry is newbuilding tonnage and this tonnage is coming out of yards in Asia. Japan is the third largest shipbuilding country contributing to the Marshall Islands and of this newbuilding tonnage coming into the Registry 23% is owned/operated by Greeks." 

"Within the Greek market, 46% of the vessels in the Marshall Islands Registry are classed with ClassNK. This is a significant change in that the Greek owners/operators are maintaining ClassNK as a class society of choice and it is clear that the ties between the Greek and Japanese maritime sectors and the Marshall Islands Registry have never been tighter," Xenakoudis concluded.  [09/06/10]