The company which runs the world’s second-largest ship registry has opened a new Cork office, boosting the harbour’s ambition to become Ireland’s maritime capital.
International Registries Inc (IRI) administers the Republic of the Marshall Islands (RMI) maritime and corporate registries. It said Cork will be its 29th office worldwide and its only base on the island of Ireland.
The Marshall Islands flag now covers 6,819 vessels totalling more than 227 million gross tons. When IRI began administering the registry in 1990, it had 39 vessels and about two million gross tons. It became the world’s second-largest registry in 2017.
IRI president Bill Gallagher confirmed the announcement at the Irish Maritime Commerce Forum in Dublin. “We have long held the view that Ireland, and Cork in particular, has genuine potential as a serious international maritime hub,” he said. “The talent is here, the infrastructure is here, and the policy momentum is building.”
The Cork office will serve Irish shipowners and operators already flying the Marshall Islands flag. It will also seek new maritime and corporate registry business in Ireland and abroad.
The office will be led by Conor Mowlds, who joined the company last year, having previously held the role of Chief Commercial Officer of the Port of Cork. He has also chaired Cruise Ireland and sat on the boards of the Bantry Bay and Belvelly port companies.
“When the world’s second largest ship registry opens its doors in your city, it sends a clear signal to the international maritime community that Ireland means business,” Mr Mowlds said.
IRI is also a participant in the Cork Futures Group, the Government’s development taskforce for the city. Its work there has focused on growing a maritime commerce cluster in Cork and on getting the city’s status as Ireland’s maritime capital adopted as national policy.
Valerie O’Sullivan, the Chief Executive of Cork City Council, said: “The arrival of the world’s second largest ship registry in our city is exactly the kind of international investment that helps build the critical mass needed to develop a world-class maritime commerce cluster.”
IRI has also recently joined the Irish Chamber of Shipping. Alongside the shipping register, IRI runs the Marshall Islands corporate registry. That registry is widely used by publicly traded companies, investment funds and financial services businesses.
