Liberian Registry introduces cost-saving measures

The Liberian Registry has introduced a range of cost-saving provisions to help mitigate the burden and financial strain currently being placed on owners and operators of Liberian-flag vessels during the sustained economic downturn in the maritime and offshore sectors.

The provisions are set out in Marine Operations Notes 02-2016 and 03-2016 recently released by the Liberian Maritime Authority to owners and operators of Liberian and non-Liberian flag vessels, as well as financial institutions and legal advisers.

They cover a range of operational expenses with potential for cost-savings as well as advice that will reduce flag state expenses.

The guidance also includes the facility to waive initial certification and mortgage-related fees for registration transactions in Liberia, as well as fees for the reissuance of ISM and ISPS certificates for vessels transferring into the Registry.

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