Liberian Shipowners Refute UNCTAD Proposals In Two New Reports

During meetings in New York recently, Grady Brown, chairman of the board of the Liberian Shipowners' Council, discussed shipowner reactions to UNCTAD proposals regarding the phasing out of open registry shipping.

Two reports have been prepared by the Council, entitled "Some Arguments Against UNCTAD's Proposal for Phasing Out Open Registries," and "LSC Commentary on the Four Areas of Study Authorized by UNCTAD." In summary, they point out the social and economic consequences of such a move. A network of global bilateral trade agreements would be essential, note the reports, to prevent a few especially competitive nations from dominating the industry. Countries would be faced with the need, regardless of their individual economic priorities, to undertake the high cost of developing nationalf l a g f l e e t s and the necessary infrastructure. A consequence would be the unavoidable rise in freight rates.

The L i b e r i a n Shipowners' Council is an association of owners and operators of the Liberian flag. With 68 members, the LSC now represents approximately 47 percent of the total Liberian fleet, and is the largest international shipowners organization in the world.

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.