Wednesday, September 6, 2000
Further improvements to the LISCR website include a new facility for approved inspectors to update their online details, thus ensuring that the most efficient lines of communication are available at all times to the registry and its customers. The website can be accessed at www.liscr.com
These innovations are part of the Liberian Registry's commitment to an ongoing program of improved access and lower costs for shipowners, whilst maintaining the highest standards of quality with which the registry is synonymous.
The Liberian Registry recently cut its annual tonnage taxes by 75 per cent to $0.10 per net ton, and waived registration fees for vessels entering the flag until the end of 2000. Later this year, it will be possible to record Liberian mortgages in London, for the first time ever. And online registration of ships is expected to be available early next year,.
"We want owners to have the best, for less," says Yoram Cohen, CEO of LISCR. "We will continue to improve service while maintaining quality at the highest level, and we will continue to bring down costs. At the same time, a one-to-one personal service will always be available to those owners who want it."
The total financing is for $310,000,000 and is for a five year term. Amortization will be $40,000,000 per year for the first two years and $25,000,000 for each following year.
CEO and president Craig H. Stevenson, Jr., commented, "We are pleased that the company's performance has improved so as to allow it to refinance its debt upon substantially improved terms. Unlike its existing credit facilities, the refinancing will not require disposition of assets. The company's ability to do future transactions will be greatly enhanced by this refinancing."
OMI further announced that VPand controller Kathleen C. Haines, has been named CFO and treasurer .