The Palau International Ship Registry’s, the world’s leading digital registry, has registered a significant rise in its ranking within the Paris Memorandum of Understanding Flag State performance list in the first half of 2022. As of 1 July 2022, PISR lies at the top third tier of the Grey List of flag states.

This rapid progress through the PMoU list is a result of PISR’s digital journey and organisation-wide dedicated to creating a leading registry for its customers and a sustainable registry for the industry. This was detailed in the annual report released at the 55th meeting of the Paris Memorandum of Understanding held on 14 June 2022.

This improvement marks an exceptional achievement for PISR – the transition process through the “rite of passage” in the regulatory lists of Paris and Tokyo has traditionally been much longer. Panos Kirnidis, CEO of the PISR stated that, “Our rate of progress is a testament to the combination of our own unique technology, our staff and the way they blend together. Within the last 5 years, PISR has achieved the most improvement within all the Flags in Paris MOU in record time, reaching Grey Listing in both the Paris and Tokyo MOUs.”

Celebrating 5 years at the helm of its European Head Office based in Greece, Kirnidis continued, “The past few years have been exceptionally challenging for owners and operators. They have had to keep up with tightening environmental regulations and requirements, followed by a pandemic which brought other issues as well as a crew change crisis which led to increased pressures and demands. At PISR, we were ready to help. Our unique digital solution was in place to meet the needs of our clients and this helped them in a commercially viable and sustainable way.”

A key area of focus for the registry was the development of its in-house Deficiency Prevention System (DPS), which supports owners and operators in avoiding financially damaging detentions while at the same time ensuring safer and more efficient voyages. Kirnidis added, “The DPS is our own internally-developed software system, combining technology and the human element, which has successfully led to considerably minimising fleet detentions. It is simple to use, highly effective and accessible via a desktop or even a smartphone. The DPS has directly impacted our exceptional rapid rise up the Grey List ranks, and the journey does not stop here. We are continuously re-assessing and enhancing our strategy, adding talent and technical expertise to our team. This makes us confident that we will see even further growth and improvement in our listing in the years to come.”

PISR has a firm understanding of what owners need and that is reliable and dependable services, information in real time, and a proactive registry which is always one step ahead; all of which sit at the core of PISR’s mission. This is clearly evidenced by its successful journey so far and in being recognised as one of the world’s fastest growing and most innovative ship registries. Kirnidis concluded by saying, “We are determined to rise to the White List and we already have the strategy in place to achieve it. The future is digital and PISR will pave the forward via its creative and unique technology solutions combined with its expert team. We will continue to grow as a flag and do our part as a registry to contribute to the sustainable future of this industry.”