Cruise & Ferry Review - Spring/Summer 2022

1 4 7 REPORT A robust recovery International Registries is supporting the RMI Maritime Registry as it helps shipowners and cruise lines to return to service after the Covid-19 pandemic International Registries (IRI) and its affiliates provide administrative and technical support to the Republic of the Marshall Islands (RMI) Maritime and Corporate Registries. The RMI Maritime Registry is a major quality registry of both the youngest and greenest fleet in the world, which is comprised of 5,131 vessels and surpassed 190 million gross tons at the end of January 2022. The RMI fleet contains a number of passenger ships, including luxury and expedition vessels. Faced with unprecedented challenges over the past two years due to the Covid-19 pandemic, the cruise industry has proven its resilience, beginning to responsibly return to operations in July 2020. Industry forecasts now indicate that passenger volume is expected to recover and surpass 2019 levels by the end of 2023. The RMI Maritime Registry is well positioned to assist cruise line owners and operators in preparing for this anticipated robust recovery and achieving their business goals. In the early days of the pandemic, the RMI designated seafarers as ‘key workers’ and has been actively engaged in assisting RMI vessel operators to find real-time solutions to overcome crew contract and repatriation issues. The RMI is ranked in the top 10 on the White List of both the Paris and Tokyo Memorandums of Understanding and has also maintained Qualship 21 status with the US Coast Guard for 17 consecutive years. These factors, combined with its investment in people and expertise, have also contributed to the overall growth of the registry. Each of IRI’s 28 worldwide offices have the ability to incorporate a company, issue a certificate of good standing, register a vessel or yacht (including those under construction), record a mortgage or financing charter, and service clientele. IRI is therefore able to provide reliable and prompt service to the international business community 24 hours per day, seven days a week. The registry’s proactive approach to the challenges faced by the passenger vessel industry and its focus on investing in the quality of its personnel will continue to sustain its expansion and success. CFR The Republic of the Marshall Islands Maritime and Corporate Registries includes 5,131 vessels in its fleet Photo: Chris Lewis