The Liberian Maritime Authority, the world's largest Open Registry, has announced the renewal of its historic partnership in a maritime agreement with the People's Republic of China.

A dispatch from Chian says the maritime agreement is designed to foster strong relations between the two governments and provide significant economic benefits to vessels registered under the Liberian flag.

The agreement was signed by Neto Zarzar Lighe Sr, Commissioner of the Liberia Maritime Authority, and HON Li Xiaopeng, Minister of Transport of the People's Republic of China.

Under this renewal, Liberian-flag vessels will enjoy their preferential rate for tonnage dues when visiting any port in China.

"We are pleased to reaffirm this vital agreement with the People's Republic of China. This partnership not only provides significant economic advantage to our fleet but also strengthens Liberia's position as the preferred flag for international shipping,

This agreement places Liberia in a distinctly advantageous position compared to other flag states that lack diplomatic relations with the PRC. For instance, flags like the Marshall Islands do not benefit from port dues discounts in Chinese ports. The preferential treatment afforded to Liberian vessels enhances their operational efficiency and solidifies Liberia's competitive edge in the global shipping industry.

The agreement also offers operational benefits, including expedited customs procedures and simplified port formalities for Liberian vessels in Chinese ports. Chinese authorities have committed to taking all appropriate measures to avoid unnecessary delays for Liberian-flagged ships, enhancing the efficiency and reliability of their operations.