Tag: cabotage

December 2016 Flags of convenience

Flags of convenience

THE CURRENT SITUATION

A flag of convenience is the flag of a vessel for which the actual property and control are located in a country other than that of the flag under which it is registered. For the owners of these vessels, the benefits are numerous,[1] including in the field of taxation, of security or labor law.

It is a phenomenon related to globalization. In 2015, they represented 71% of the total tonnage of the merchant navy. [][2] The world fleet operated under 152 pavilions. Three of these pavilions, Panama, Liberia and Marshall Islands accounted for 42.8% of … Lire la suite