Global Ship Registry: Innovation Leads to Elevation

Maturity and innovation have proved a winning combination as the world’s most technologically inventive ship registry has been elevated to the Paris MoU Grey List from June 2021.

Palau International Ship Registry (PISR) has been recognised for its digitally based services and growth in just three short years. This is a remarkable progression for a new registry and is attributed to the commitment to digital services and the recruitment of experienced and knowledgeable staff across the maritime sector. Now the combination of its own unique technology and human resources has seen it record some of the lowest detention figures for its growing fleet in the past 12 months.

Panos Kirnidis, CEO of PISR, is also celebrating the fifth anniversary of the registry’s European office based in Piraeus in Greece and believes the registry’s inclusion in the 2021 Paris MoU Grey List is a testament to the maturity and determination of its global network.

“This is not a surprise to anyone associated with Palau International Ship Registry. We were determined to lift ourselves into the white list and this will be achieved through our innovative and unique technology combined with the recruitment of experts in every aspect of ship registry services.

“Detentions by Port State Control and the increasing environmental regulations have put ship owners and operators under great stress in the past few years. The global pandemic has added to their worries and yet, we have proved that by investing in online services, finding the right people across our global network and offering our unique Deficiency Prevention System (DPS), we can assist them in avoiding these financially damaging detentions.

“It is this combination that is unique to PISR. It is our own in-house developed software systems that have seen our fleet detentions plummet. It is simple to use, highly effective and available from a desktop PC or even a smartphone. This is the reason PISR has been able to reduce detentions and allow us to claim our place in the Grey List. But we are not stopping our drive and we will see even further improvements in our listing into 2022 and beyond.”

After just five years PISR has been recognised as one of the world’s fastest growing and most inventive ship registries according to Panos Kirnidis.

“When I talk to ship owners, they tell me they want reliable and dependable services. They want information in real time enabling them to make the decisions that keep them sailing without penalties. We developed our Deficiency Prevention System (DPS) to do just that, and it has been an outstanding success. This is a process of maturity for any new ship registry, but we began life by examining the mistakes other established registries had made and then avoided them. Our combination of technology and the human element is the basis for our proactive services.

“We recently hosted an online event for our Deputy Registrars and Flag State Inspectors and recognised their contributions to our success. Finding the right people is as painstaking as developing the technology but ship owners tell us it is paying dividends. We have been saying we are trailblazers in an established industry. We have been telling the maritime and shipping world that Palau International Ship Registry is here to stay. Well, we have proved that, and we make no apologies for saying the Grey List is a great reward for our faith and determination to be the best at what we do. As a flag of confidence, PISR will continue to innovate, operate and generate, the right combinations of services, fees, knowledge and customer service that we are known for. This year the Grey List and our targets for the coming years include an even larger fleet and the White List is in our sights.”