PISR’s PSC Performance Review (2019-2021)

The Republic of Palau and Palau International Ship Registry reach the top of the Paris MOU Grey List and records the most improved Flag State among all the countries.

Paris MoU Position

Palau International Ship Registry (PISR) – already recognized as the fastest growing ship registry according to Fairplay’s Magazine’s five-year review – has now raced to the top of the Paris MoU Grey List showing the most improvement among all vessels inspected in Paris MOU during the past five years. We are heading for the White List and proving that our online services are exactly what ship owners want.

On July 1st, 2021, the Paris MOU published the Annual Report for the 2020 referring to the performance period 2018-2020 and has listed Palau in the Grey List of PSC Performance.

Within the past five years, Palau has shown a tremendous improvement to the Paris MOU WGB List, the Detention Ratio, and the Excess Factor. By analyzing the data, as provided in the PMOU website, that will be officially published in June/July 2022 for the period 2019-2021, Palau has been further improved to the top of the Grey List (Figure: 2) by reducing further the Detention Ration from 24.4% in 2016 to 5.6% in 2021; and the Excess Factor [1]from 3.77 in 2017 to 0.30 in 2021 (Figure: 1).  

Figure 1: Paris MoU progress 2014-2021 – Palau Detention Ratio & Excess Factor (Source: PMOU Website)
Paris MoU White List
Paris MoU Grey List
Paris MoU Black List
Figure 2: Paris MoU White, Grey & Black Lists
Figure 3: 5 years Performance Comparison

Figure 3, represents the five years comparison of the Excess Factors between the periods 2017-2019 to 2019-2021 for all the countries which their flagged vessels inspected in PMOU, showing that Palau is the most improved flag state with the Excess Factor improvement of 1,84; elevating from 2.14 to 0.30

In regards to the year to date performance (as per February 10th, 2022), we are experiencing a further improvement with the Excess Factor to be at 0,15.

Figure 4: 3 Year EF Performance – including YTD 2020-2022

Tokyo MoU Position

Image: Tokyo MoU progress 2014-2021 – Palau Detention Ratio & Excess Factor
Source: Tokyo MoU Inspection database

The benefits of our DPS has seen the registry climb not only through the Paris MoU Grey List, but make a significant mark in the Tokyo MoU. According to the statistics from 2021, Palau will be also included in the Grey List of Tokyo MoU in July 2022. Since our inception we have developed unique tools and online services to benefit ship owners. Our DPS System is paying off, not only for the registry, but also for ship owners as the excess factor recorded in Tokyo MoU decreases.

Looking at detentions in the Tokyo MoU statistics, from 2014 to 2021, PISR saw a significant decrease in detentions over a rolling three-year period from 14.5% down to 8.6% in the latest period from 2019 to 2021. This is the culmination of a steady reduction in detentions that is also reflected in performance by the excess factor which decreased from 0.38 to 0.35 from 2020 to 2022.

Both the Paris MoU and Tokyo MoU figures reflect the benefits of using our DPS and demonstrate the effectiveness of an online system that pays dividends for ship owners who use it. As with the Paris MoU, we will see PISR rise through the Tokyo Grey List and add further evidence to our assertion that the registry is benefitting from unique and in-house developed online services.

Image: Tokyo MoU Flag performance today – 2022 – Palau Excess Factor
Source: Tokyo MoU Inspection database

[1] The “White, Grey and Black (WGB) List” presents the full spectrum of flag states as per Paris MoU and is based on the total number of inspections and detentions in 3-year period for flags with at least 30 inspections in the period, giving a result called “Excess Factor”; where the smaller the figure is the better performance with values less than 0 to be the White List, between 0 to 1 the Grey List and greater that 1 the Black List. All inspection and detention records are retrieved by the Inspection Database of Paris MoU.