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, 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.  The world fleet operated under 152 pavilions. Three of these pavilions, Panama, Liberia and Marshall Islands accounted for 42.8% of … Lire la suite