Palau registry becomes fastest growing in the world

HOUSTON — Palau International Ship Registry has become the fastest growing flag in the shipping industry with a 43.2% growth in the number of vessels joining since 2013, according to a Nov. 23 release. Deliberated upon for 20 years prior to being signed into law in 2010, the PISR registered its first two ships in 2012. Headquartered in Houston, PISR opened an office in Greece in March 2017. In 2016, PISR reported more than $600,000 in revenues, with more than $380,000 going to the government of Palau under a 70/30 share between PISR and the government . . .

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