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Monday, 9 January 2017

Liberian Registry strengthens Asia team to meet growing demand

The Liberian Registry has announced strategic new appointments in a number of key areas within the Asian regional offices operated by its US-based manager, the Liberian International Ship & Corporate Registry (LISCR).

Ms. Wan Ching Chiang has been promoted to Registrations Manager for the Liberian Registry in Singapore. Ms. Chiang is embarking on her fifth year with the Liberian Registry, which she joined as Registrations and Corporate Co-ordinator. In her new role, Ms. Chiang will be overseeing vessel mortgage and corporate registrations for the Liberian Registry’s fast- growing number of South-East Asian clients. Ms. Chiang graduated with a Bachelor of Science degree in Business Administration and has previous experience with working in the financial industry with both HSBC and Barclays Capital.

The Liberian Registry’s Greater China team has been bolstered by the additions of Mr. Pao Chi Hsu and Mr. Owen Fu as Technical Managers. Mr. Hsu, who holds a Master’s Degree in Ocean Engineering, has previously worked as a lead class surveyor in the Greater China region and as a vessel superintendent for a leading bulk carrier owner. Mr. Fu is taking on this new challenge following a successful career as a leading port state control officer and department head for China’s Maritime and Safety Administration in the port of Ningbo. Mr. Fu obtained his Master’s Degree in Naval Architecture from Shanghai Jiaotong University, and his Ph.D. in Engineering from Shanghai Maritime University. Mr. Hsu’s and Mr. Fu’s expertise with vessel compliance, audits and port state support has played a critical role in significantly reducing the number of detentions of Liberian-flagged vessels in the Tokyo MoU region.

LISCR CEO Scott Bergeron says, “The Liberian Registry has experienced tremendous growth in Asia over a number of years. Most recently, that growth has accelerated following the historic Agreement on Maritime Transport between the People’s Republic of China (PRC) and the Republic of Liberia, under which Liberian-flag vessels will be charged a preferential rate for tonnage dues when visiting any port in China.

“The Liberian Registry is committed to expanding its network of professionals to meet increasing demand, providing expertise and advice when and where it is needed, and adding to our core strength of offering timely, informed and innovative service to our continually expanding client base.

“Asia is a vibrant and vital hub in the worldwide shipping chain, and increasing numbers of owners from the region are putting their trust – and their ships – in the Liberian Registry. These recent executive appointments confirm our commitment to providing the best service available to shipowners, operators and managers anywhere in the market today.”

The Liberian Registry has long been considered the world’s most technologically advanced maritime administration. It has a long-established track record of combining the highest standards of safety for vessels and crews with the highest levels of responsive service to owners. Moreover, it has a well-deserved reputation for supporting international legislation designed to maintain and improve the safety and effectiveness of the shipping industry and protection of the marine environment.


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Wednesday, 4 January 2017

Moore Stephens says shipping will find ways to ride out protracted downturn

International accountant and shipping adviser Moore Stephens says the shipping industry will use a mixture of experience and innovation to navigate what is likely to be another volatile year for the industry in 2017.

Richard Greiner, Moore Stephens Partner, Shipping & Transport, says, “Making predictions about the shipping industry is as volatile an undertaking as the business of shipping itself. Who, for example, predicted that the Baltic Exchange would be sold to Singapore? The same people, presumably, who foretold that Donald Trump would be elected president of the United States, that Britain would vote to leave the European Union, and that Leicester City would win the English Premier League. Yet it all happened in 2016.

“Predicting shipping’s fortunes in 2017 is as precise a science as foretelling the English weather. But some things are at least more likely to happen than not. Oil prices should continue on an upward trend on the strength of the recent OPEC production cuts. Calls for higher levels of ship demolition will increase significantly, although not ship demolition itself. The cost of meeting regulatory requirements will become clearer as the industry and its financiers grapple with the financial consequences of having to burn lower-sulphur bunker fuel whilst ensuring that their ballast water management systems are fit-for-purpose.

“In common with other industries, shipping will be waiting to see whether Brexit really does mean Brexit. Orders will be placed for new ships. If they are not, a number of shipyards will go to the wall. For many, freight rates will continue to struggle to reach the levels required to ensure commercial viability, while consolidation will remain the buzzword in the liner trades.

“If operating costs do not increase, concern will spread about whether quality and safety are being sacrificed. Both traditional and innovative sources of funding will remain accessible to those with sound business plans. And cyber security will move nearer the top of shipping’s list of things to address.

“Confidence in shipping increased steadily for most of 2016, underlining just how robust the industry can be in difficult times. The inherent volatility of the industry will continue throughout 2017, during which time shipping will resort to tried and trusted methods and to fresh innovation alike in an effort to keep its head above water. Shipping will find a way.

“Things that will not happen in 2017 include another major fall in oil prices, and a big increase in hull insurance rates. Leicester City will not win the Premier League.”

Moore Stephens LLP is noted for a number of industry specialisations and is widely acknowledged as a leading shipping, offshore maritime and transport & logistics adviser. Moore Stephens LLP is a member firm of Moore Stephens International Limited, one of the world's leading accounting and consulting associations, with 657 offices of independent member firms in 106 countries, employing 27,613 people and generating revenues in 2015 of $2.7 billion. www.moorestephens.co.uk

For more information:
Richard Greiner
Moore Stephens LLP, London
Tel: +44 (0)20 7334 9191

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