Palau International Ship Registry signs new pact with government

BY BERNADETTE H. CARREON

Palau Correspondent

  KOROR, Palau — Palau government has successfully negotiated an increase in the revenue share from the Palau International Ship Registry following the signing of a new agreement April 13.

  The new agreement increases Palau shares of profit to 40% and after two years will increase to 50%.

  The new agreement also features an added green fee to be imposed from Palau-flagged registered vessels. The fee will then go directly to the Palau National Marine
Sanctuary initiative.

  “During the last few months we have worked together with this new . . .

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