E-registry is making progress
In cooperation, the International Chamber of Commerce (ICC) and the Singapore Shipping Association (SSA) are working together with the Singapore tech start-up Perlin to build a digital blockchain ship registration preparation system for international adoption. Called the international e-registry of ships (IERS), it is a new digital solution to streamline, standardise and improve the currently laborious ship registration and renewal process.
Immediate advantages will include very significant reductions in operating costs, timing required, human error and fraud. “This opportunity to collaborate with the ICC and Perlin to co-create the world’s first blockchain system for preparation of ship registration not only brings solid efficiency gains and cost savings for our members but also the wider global maritime community,” said Steen Brodsgaard Lund, SSA council member and chairman of the digital transformation committee.
Singapore is the fifth-largest registry in the world with a fleet of around 4,500 ships amounting to 91 million gross t. Such collaboration may have the potential to improve the efficiency of the ship registration process for the Singapore flag, which is currently done via the Marinet web portal. (fd)