GEORGE
TOWN, Grand Cayman

The
Flag State Performance Table for 2018/19 was release by the
International Chamber of Shipping (ICS) and Cayman Registry, for the
8th
year running, has been rated as being top-of-class.

Cayman
Registry received positive indicators across the board on the
Performance Table, 1 of 16 flags out of 117, to achieve this level of
quality and compliance. 4 other Red Ensign Group registries join
Cayman Registry in the top 16 which emphasizes the caliber of work
being done across the group to maintain the highest standards in
relation to safety, environmental and social performance.

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 ICS
ranks flags based on classifications including their standing with
the Port State Control Memoranda of Understanding (PSC MOUs) –
namely the Paris Memorandum of Understanding (MOU), the Tokyo
Memorandum of Understanding (MOU) 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 MoUs. The Cayman Islands also qualifies under the United
States Coast Guard (USCG) Qualship 21 Program, which enables Cayman
flagged vessels to have considerably less Port State Control
Inspections by the USCG.

The
Flag State Performance Table highlights the sound performance of all
the world’s major flag administrations, irrespective of whether
they are open registers or traditional maritime flags. The table
uses a system of performance indicators against international
requirements and obligations expected of a flag state and highlights
the sound performance of all the world’s major flag
administrations.

The
table is an important benchmark for the international shipping
industry and along with its guidelines, serves to encourage
ship-owners and operators to examine the substance of a flag before
registering their vessels with it. The table and guidelines also
encourage owners and operators to put pressure on their flags to make
any improvements relating to safety of life at sea, marine
environment protection, and the provision of decent working and
living conditions for seafarers.

The
flag state is the state in which a vessel is registered and plays a
critical role regarding the safety of life at sea and the protection
of the marine environment. On the high seas, flag states hold sole
jurisdiction over the vessels registered with them and it is the flag
state that has overall responsibility for the implementation and
enforcement of international maritime regulations for all vessels
flying its flag. Effective regulation by governments of the technical
and social aspects of shipping is therefore vital to ensure safe,
secure and pollution-free ship operations, and good employment
conditions for seafarers.

Mr.
A. Joel Walton, CEO of Cayman Registry noted: “We are very pleased
to be acknowledged, for the 8th
year running, by the ICS as one of the world’s leading flags. This
is a testament to the hardworking team of the Registry and shipowners
for their continued outstanding efforts. The Registry will continue
to set the pace with quality service by tradition, leadership through
innovation.”