THE PROFILE of the Jamaica Ship Registry (JSR) is increasing in the eyes of Greek Bankers with First Business Bank (FBB) becoming the latest Greek bank to recognise the JSR.
This was the word from Eric Deans, director of shipping policy and research and registrar general at the Maritime Authority of Jamaica (MAJ). Mr. Deans was speaking on a recent visit to Greece to meet key players in the Greek shipping sector.
Accompanied by Captain Lennox Bailey, director of safety, environment and certification, the trip was planned as a major marketing strategy to woo Greek ship owners. However, it was not only the ship owners that were accepting of the quality of the service of the JSR but the bankers, charters and attorneys as well, and so FBB became another major Greek bank to sanction the JSR following the footsteps of Eurobank and Laiki Bank.
"This acceptance of the JSR by another Greek bank is an important step for us in wooing Greek ship owners. Bankers play an important role as it relates to mortgages and ship financing and a registry has to have the blessings of the bankers who finance the owners that the registry is targeting, otherwise all efforts may be in vain.
"Recognition by banks enhances the profile of the JSR and will settle some of the speculations in the Greek market regarding the JSR," explained Deans.
GERMAN MARKET
The MAJ also sent a team to Germany, which is seen as a key market for the JSR, having regard to the low age profile of the ships owned by German corporations and the huge investment in 'newbuildings' being made by these companies. According to Claudia Grant, deputy director general at the MAJ: "The JSR's philosophy regarding the registration of quality ships combined with its modern bareboat charter provisions, double taxation agreement with the Federal Republic of Germany and the supply of highly-trained officers has set the foundation for a fruitful partnership with German ship owners."
During the visit to Germany, Mrs. Grant, accompanied by Legal Affairs Director, Bertrand Smith, met with a number of owners in Hamburg, Bremen and Lubeck, as well as Ehlermann & Jeschonnnek, one of the leading law firms for ship registration and finance in Germany.
"The Shipping Act and legislation have been approved for the purposes of German financial institutions and owners, and as a result of our meeting with the regulatory authority, will receive approval as a compatible register for bareboat charter registration of German vessels," noted Mr. Smith.
He went on to explain that "a commitment was received for a new building to be delivered in 2007 and the opportunity was taken to meet with another owner regarding the proposed registration of a newbuilding later this year."
