The Republic of the Marshall Islands (RMI) fleet now stands at 223,262,177 deadweight tons (DWT), making it the second largest registry in the world in terms of DWT, second only to Panama.
The RMI is not only the world’s second largest registry, but the Greek shipping industry’s leading flag as well. The RMI has been gaining market share year-on-year and 791 Greek ships totaling 62,190,301 DWT have registered there, accounting for over 18.9% of the Greek owned fleet.
Bill Gallagher, President of IRI said that, “From long-standing traditional Greek shipowners to a new wave of Chinese leasing companies, the RMI Registry is the registry of choice for owners looking for an innovative and quality driven partner.”
Theo Xenakoudis, Global Business Operations and Managing Director of the Piraeus office said that, “Prior to registration, we vet owners, operators and vessesl. During the vessel’s time in the Registry, we continue to conduct risk assessments and work with ship owners and operators to ensure their vessels meet the Registry’s quality standards.”
Additionally, the Registry has received preliminary confirmation that it will maintain its United States Coast Guard Qualship 21 status for 2017. This is the 13th year in a row that the Registry has held its Qualship 21 status.
In October 2016, the RMI became the world's largest flag of tanker fleet with customers from Greece, the United States and Asia, with the tanker flag fleet size of 44.6 million gross tonnage. It’s total fleet size registered 137.3 million gross tonnage with the vessels averaging 8.7 years.