The International Chamber of Shipping has rated Cayman Registry as top of class for the fifth consecutive year in its 2015/2016 Annual Flag State Performance Table.
Cayman Registry is one of 15 flag states that has received the distinction in this year’s performance table.
The ICS has been the principal international trade association for the shipping industry, committed to the technical, legal, employment affairs and policy issues affecting international shipping.
The Flag State Performance Table serves to encourage ship owners and operators to examine the substance of a flag before registering their vessels, as well as to put pressure on their flag administrations to make any necessary improvements, particularly with regards to safety of life at sea, marine environment protection, and the provision of decent working and living conditions for seafarers.
Joel Walton, CEO of Cayman Registry, said, “We are very pleased to be recognized, for the fifth year running, by the International Chamber of Shipping as one of the world’s leading flags and would like to congratulate our team and the shipowners for their continued efforts in maintaining an outstanding safety and quality record for the Cayman flag.”
Representing ship owners and operators in all sectors and trades, including the International Maritime Organization, the ICS comprises national ship owners associations in Asia, Europe and the Americas whose member shipping companies operate more than 80 percent of the world’s merchant tonnage.
Cayman Registry said it continues to implement the legislative and regulatory framework necessary to retain the top of class designation and maintains these standards by employing and training highly qualified professionals in areas of surveying, registration and maritime administration matters.
The ICS ranks flags based on classifications including their standing with the Port State Control Memoranda of Understanding – namely the Paris Memorandum of Understanding, the Tokyo Memorandum of Understanding and demonstration of an excellent ship safety and pollution prevention record.
Cayman Registry is “white listed” and is rated as a “low risk” flag state in both these memorandums of understanding.
The Cayman Islands also qualifies under the United States Coast Guard Qualship 21 Program, which results in considerably less Port State Control inspections by the U.S. Coast Guard. Cayman Registry saw a doubling of the number of Qualship 21 qualified vessels for 2015.