Liberia renews China agreement

Sep 14 2018

On 5th September, the People’s Republic of China (PRC) and the Republic of Liberia renewed their maritime agreement for another five years.

Under the renewal agreement, Liberian-flag vessels will continue to enjoy their preferential rate for tonnage dues when visiting a Chinese port. These savings - a 28% port dues reduction - can translate to an effective net increase in TCE rates of $1,000 per day based on a 100-day voyage.


Furthermore, it has been agreed to establish a technical co-operation committee so that both countries can collaborate in areas, such as port state control, crew training and future maritime regulatory policy.


In addition, the recent maritime law amendments introduced by Liberia, which allow a financing charter to be recorded as a mortgage are likely to strengthen still further the high level of mutually beneficial co-operation which exists between Liberia and its Chinese partners.


The agreement was signed by China’s Minister of Transport, Li Xiaopeng and Liberian Maritime Authority Commissioner, James Kollie.  Minister Li said that renewal of the agreement will further strengthen co-operation in the shipping, maritime, port and transport infrastructure sectors, as well in the training and education of seafarers.


Commissioner Kollie said the renewal of the maritime agreement underlines the strong friendship which exists between the two countries and further promotes the strengthening of their pragmatic levels of co-operation, resulting in mutual and tangible benefits for all concerned. “Renewal of the agreement,” he concluded, “takes relations between the two countries to a new level.”


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