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Gov’t, PISR reach new agreement

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by April 13, 2018 Top Stories

The government and the Palau International Ship registry appears to have reached a new agreement following an announcement from the Office of the President yesterday of a scheduled signing this evening.

Palau’s current contract with the Palau International Ship Registry (PISR) was earlier under scrutiny, with the government expressing frustration over the management of the registry by PISR.

PISR representative Alan Seid in an interview said that the government and the PISR “are making significant progress in their dialogue.”

He, however, refused to divulge the details of the new agreement until the signing tomorrow scheduled at Palau Pacific Resort (PPR) at 6 p.m.  Panos Kimidis, PISR CEO is in Palau to sign the new agreement.

Presidential Chief of Staff Secilil Eldebechel earlier said the government is urging PISR to improve its six-year old contact with them.

Eldebechel said the government has expressed numerous times its frustration with the management style of the PISR and has warned the company that it is ready to terminate its contract with them if changes are not made.

The government’s priority is for the government to be able to bring in more money for the country from the registry’s revenues and that PISR ensures it complies with UN resolutions and international started in registering vessels under the Palau flag.

In the current allocations, the government gets 30 percent share of the revenues, with PISR retaining the 70 percent.  The government wants an increase of the share in revenues.

The government has earlier expressed concern about Palau flags misuse under the registry, which resulted in public “black-listings” under the international state Port Control MOU’s, international sanctions regime violations and the registration of dangerous and unseaworthy vessels.

Seid said since 2011, PISR has registered about 400 ships. (Bernadette H. Carreon/Contributor)

 

 

 

 

 

 

 

 

 

 

 

 

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