flag of convenience

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flag of convenience

n. pl. flags of convenience
A foreign flag under which a merchant vessel is registered for purposes of reducing operating costs or avoiding government regulations.

flag of convenience

n
(Government, Politics & Diplomacy) a national flag flown by a ship registered in that country to gain financial or legal advantage
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Consequently, there are a dozen ships owned by Pakistanis sailing under flags of convenience countries like Panama.
Curiously, the book chronicles, yet fails to highlight, that one of the most prevalent flags of convenience throughout history was the British flag--and the greatest facilitator of alternative registration of U.S.-owned ships was the U.S.
From statistics, we see that only 6 flags control the 77% of the total vessels, which are registered under flags of convenience.
However, plenty of vessels fly "flags of convenience," where you can have a state thats at least recognized, but imposes very minimal obligations for taxes and safety requirements, he explains.
The waters off West Africa are being plundered by industrial vessels from across the world including Russia, China, and ships operating under "flags of convenience" that allow them to skirt costs and regulations.
"In contrast, an over-dependence on flags of convenience carriers and ships belonging to China or other nations that may test us could lead to hardship for those who live and serve under the flag of the United States."
Flags of convenience, such as Comoros, Tuvalu, Saint Kitts and Nevis, Togo and Sierra Leone, less favoured during operational use, have become very popular for end-of-life ships.
Responding to the question as to why the Cyprus registry's growth had slumped in terms of the number of new vessels attracted in recent years, Mitsopoulos cited three reasons: the need for harmonisation with the EU acquis entailed revising of existing legislation and enhancing regulation; increased international competition from 'flags of convenience'.
In 1997, many of our ships sailed under Flags of Convenience - registered abroad because the UK wasn't competitive enough.
Shipbreaking Platform's list shows that most of these ships flew flags of convenience (Panama, Liberia, Bahamas, etc) for their last journey.
The practice of flying flags of convenience, typically from countries such as Panama, Liberia or the Bahamas, makes ships subject to the legislation, environmental and labour laws of that foreign nation.