The Bahamas Maritime Authority (BMA) has expanded its reach to the Asia-Pacific market, after announcing this week that it will have representation in South Korea.
South Korea is a global leader in shipbuilding and about seven million gross tons of shipping are registered in the country.
BMA said it signed an agreement with Ben Line Agencies – which has a century-long standing in the region – to establish representation.
“This agreement is aimed at extending the BMA’s presence in South Korea beyond its authorized Inspectorate and Recognised Class societies so as to enhance its quality service delivery. The agreement is further aligned to the BMA’s strategic objective of strengthening its global representation through the expansion of the authority’s base within the Asian region,” the BMA stated in a release.
Dong-Su Kim, Ben Line’s country manager in South Korea, said: “Ben Line Agencies is delighted to be representing the BMA in South Korea and we see good prospects to expand this presence in an important ship owning market. We look forward to introducing the BMA’s strong credentials to more South Korean shipowners, showcasing the value that can be derived from the authority’s service offering.”
Speaking to the partnership, BMA managing director and chief executive officer, Captain Dwain Hutchinson said, “The BMA has ambitious plans to cultivate a presence in the major shipping center of the world, both to ensure continual improvement in the delivery of services to its valued customers and to accelerate the pace of business growth.
“This agreement with Ben Line progresses the authority’s critical business plan while strengthening The Bahamas’ presence and we look forward to continuing to provide quality maritime services to our customers globally.”
Last month Parliament passed the the Merchant Shipping Bill, 2021, which among other things modernizes the merchant shipping industry in The Bahamas.