I COMMERCIAL OVERVIEW OF THE SHIPPING INDUSTRY
The Republic of the Marshall Islands is home to one of the world’s largest registries of ocean-going vessels, mobile drilling units, floating production platforms and other vessels. More than 3,000 such vessels are registered under the Marshall Islands flag, making up more than 102 million gross registered tonnage, having recently become the world’s second-largest ship registry. The Marshall Islands is considered an ‘open’ or ‘international’ registry, meaning that it is possible for entities not resident in the Marshall Islands to own Marshall Islands-registered vessels.