IHS Fairplay: The Fastest Growing Registry
The Palau International Ship Registry – PISR was created by an amendment to the Title 7 of the Republic of Palau National Code in 2010 and was appointed by the Government of the Republic of Palau as the Ship Registry Administrator. The Republic of Palau is a presidential republic, with a Compact Agreement of Free Association (COFA) with the United States of America.
The COFA is an international agreement establishing and governing the relationships of free association between the United States and the three Pacific Island nations that, formerly composed the Trust Territory of the Pacific Islands: the Federated States of Micronesia, the Marshall Islands, and Palau.
Palau International Ship Registry is the newest Flag to come into existence in more than 50 years of closed competition in the sector with a strategic plan to play a key role among those that today stay at the top of the rank. Our goal is clear, to be one of the leading ship registries in the global shipping industry. Therefore, we had to answer a very simple although an important question; why a ship owner will choose to register his vessel with PISR and not a competitive flag.
As times change and technology develops; our clients are looking for traditional registry support but they are always open to new technologies and developments in legal matters, welfare issues and maritime regulations.
Palau International Ship Registry is established and designed to redefine the Ship Registration service as it is time for a next generation of a Smart Registry. PISR is built on Information Technology and software systems, by bringing together the best of our deep thinking and experience and together with the technology implementation we meet the customers’ needs in all aspects of their business.
With the custom development of a Smart Registry Software; our unique custom web solution, we process all the applications and workflows, accessible by different levels of industry stakeholders. In PISR era the shipowner and manager have the power on their desktop to process all their ship and seafarer’s inquiries to PISR and retrieve Key Performance Indicators (KPIs) of their fleet. This is how we provide smooth, faster, efficient and cost effective 21st century registration services, with full administrative support and tailored customer service. Therefore, a major benefit of being a new registry in the industry is that we have developed our processes and build on a foundation of a fully electronic registry.
Another prime differentiator of PISR is the Deficiency Prevention System (DPS), uniquely designed and developed by Palau International Ship Registry and launched early in 2017.
DPS has been introduced to provide greater details and tools which assist in providing support in order to prevent deficiencies during vessel’s PSC Inspection. DPS is raising awareness of deficiencies and has made significant contribution to marine safety.
The system is fully handled by PISR without overloading the owning/managing company to comply with additional requirements.
There is a dedicated manned DPS department within PISR headquarters which monitors the location and destination of the Palau flagged vessels and analyzes with over 93% confidence their risk performance and priority for inspection by a PSCO. The monitoring and screening occurs without disturbing or requesting any information from the shipowner or manager until the point that PISR appoints a Flag State Advisor to attend the ship and assist the Master and the Crew for preparedness prior the PSC attendance; remain onboard during the PSC inspection in order to assist the progress of the PSC Inspection with the authority of a Flag Inspector; and finally, to provide a feedback report to the ship manager for condition of the vessel. It is worth noting that the DPS service is offered by PISR for the ports in the region of PMOU and TMOU as an adding value service to those shipowners who choose Palau as their vessel flag.
Apart from the qualitative aspect that DPS focuses by the deficiency prevention, it is a tremendous service adding value as reduces the vessel’s risk indicator along with a tremendous cost-effective value as the attended FSI carries out the Annual Safety Inspection (ASI) and combined with an ISM and ISPS audits when required.
Palau International Ship Registry – PISR is tomorrow’s leader, today and globally known as a SMART registry with customer centric focus offering differentiated, innovative and reliable solutions for shipowners
PISR has a set of unique SMART tools which allow greater operational and cost-effective flexibility for the shipowners. It’s unique custom web SMART solution for processing all applications and workflows, accessible by different levels of industry stakeholders; the shipowner and manager has the power on their desktop to process all their ship, yacht and seafarer inquiries to PISR and retrieve key performance indicators of their fleet.and managers. We are honored that IHS Fairplay magazine at its annual review has ranked PIR as the fastest growing flag in the shipping world with an impressive 43.2% growth in the number of vessels joining the registry since 2013, and 480 active ships under the registry.
- Online service application• Workflow management• Instant job status• Online submission of required documentation• Online printing of certificates• Online status of the vessel, along with vessel certificates and monitoring of important calendar dates• Online payment• Online library• Full Customer Relation Management (CRM) and KYC software installation
The Head Offices of PISR are located in Piraeus, Greece and in Houston, Texas and are the offices of the Ship Registry Administrator. PISR’s goal is to offer a fast, reliable, effective and efficient registration services to shipowners and at the same time provide technical advice in order to ensure that vessels registered under the Palau Flag are in good conditions and in accordance with International Regulations.
The Registry’s personnel are highly experienced in matters of International Ship Registrations, Seafarer’s documentation and qualifications, Mortgages Recordation and Discharge, International Regulations Compliance and Statutory Requirements, and are committed to provide our clients a complete, fast, and reliable registration process while meeting the highest customer satisfaction standards backed by the latest technology.