Liberian Registry decides to expand its presence in South Korea
With the launch of its Busan branch office, the Liberian Registry, the world's second largest ship registry, has agreed to extend its presence in South Korea.
The Liberian Registry has been winning over the tonnage of Korean shipowners over the past few years. The registry reported that, with this additional technological and operational office in the heart of Korea's maritime city, it has met the demand of its growing Korean fleet.
“The majority of Korean owners will have their management companies located in Busan so this will be a dual office in the sense that it will support our growing client base in Korea on technical and operational matters, and it will also be a key in our business development efforts in Korea," Alfonso Castillero, Chief Operating Officer of the Liberian Ship and International Corporate Registry.
As the newest addition to the global network of full-service offices for the Liberian Registry, LISCR Busan, situated inside the same building as the Korean Shipowners' Association, joins Oslo, Imabari, Houston, and Manila.
Panama, with about 7,000 registered vessels, remains the largest ship registry in the world, followed by Liberia with more than 4,000 ships flying the country's flag, data given by VesselsValue shows.
Liberia has outpaced all other open registries, rising at 8.06 percent and 13.8 million gross tons since January 2020, and is currently the fastest growing flag state, according to Clarkson's World Fleet Monitor from mid-December 2020.
Maritime Business World