Liberia's Commissioner of Maritime Affairs, Benoni W Urey, recently announced that the government of the Republic of Liberia had decided not to renew its contract with International Registries, Inc (IRI), the Reston, Virginia based company that has acted as the country's exclusive agent of flag ship registration for the past 49 years.

At a news conference in New York, Mr Urey signed a contract with Liberia International Ship and Corporation Registry (LISCR), an independent company that has been formed to take over management of the Liberian registry.

"We're very excited about the changes that are taking place," said Mr Urey. "Liberia suffered seven years of civil war, and great damage was done to our nation and its economy, but our democratically elected government is putting Liberia's house in order, and fresh, new leadership of the maritime programme is part of all that."

The contract with LISCR is set to take effect on 1 January, 2000. The new company will be headed by Lester S Hyman, who will serve as LISCR's chairman. Mr Hyman is a founding partner of the Washington, DC law firm Swidler, Berlin, Shereff and Friedman, and has a long, distinguished record in international law, international peace resolution and legislative counselling.

Jay Cohen, a highly regarded business strategist and consultant to America's leading accounting and legal firms, has been appointed vice-chairman.

"Liberia International Ship and Corporate Registry is determined to provide even better service to the ship owners who fly the Liberian flag," said Mr Hyman. "And we're equally committed to providing new accountability and transparency to the Liberian government and its representatives at the Bureau of Maritime Affairs." Over the past seven years, Mr Hyman has served as legal counsel both to the Liberian government and the Bureau of Maritime Affairs.

Mr Hyman and Mr Cohen have appointed an Advisory Search Committee to assist them in identifying an experienced maritime professional to manage the day-to-day operations of the Registry.

The committee includes the current chairman of the Liberian Maritime Advisory Council, James Gresham Davis, maritime attorney, author and editor-in-chief of the International Ship Registry Review, Marie Lucca, former deputy chief of staff of the US Army and President of the War College, Lt Gen Robert Yerks and former US Maritime Administrator and current principal of the Chinook Marine Corporation, Cap Warren Leback.

Liberia's maritime programme contributes substantially to the nation's foreign exchange revenues. The Liberian registry has the highest tonnage participation of any maritime registry in the world, with over 60m gross tonnes currently flying the Liberian flag.