Marshall Islands triples fleet size in four years.

(From Lloyds List)

THE Marshall Islands Registry, which exceeded the 20m gt mark earlier this year, has tripled the size of its fleet in the space of four years.

Latest figures show that more than 720 vessels totalling 22m gt flying the Marshall Islands flag, an increase of 30% in 12 months.

Last month, the Republic of the Marshall Islands announced a major initiative to combat international terrorism and the proliferation of weapons of mass destruction, through the signing of a bilateral proliferation security initiative agreement with the US.

The agreement provides two-way authority to board and search, in international waters, ships suspected of carrying illicit shipments of WMDs, their delivery systems or related materials.

'We negotiated with the US over a few months and struck a deal that protects the interests of the Marshall Islands administration and shipowners flying its flag,' says Bill Gallagher, president of International Registries, Inc, the administrator of the Marshall Islands Registry.

In its efforts to eliminate substandard shipping, IRI is revamping its inspection regime to take into consideration problem areas revealed as a result of continuing review process.