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 8^th 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 8^th 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.”