Flag of conveniences

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Flag of conveniences

  1. 1. Flags of convenience Group 6
  2. 2. Outline• Definition• Advantages• Disadvantages
  3. 3. Definition• Ship registered under the maritime laws of a country which is not the home country of the ships owners. Quotes from business dictionary
  4. 4. The Republic of Panama “more than 5,700 ships flying the Panama flag”-2011Source: http://www.panama-guide.com/index.php?topic=flagged
  5. 5. Advantages  Low registration fee and tax cost  Operating cost reduction • Low wage -“Operating costs for open registry ships are from 12- 27% lower than traditional registry fleets”  Avoiding discrimination among nation ARKO FlY (Mongolia)Quote: http://people.hofstra.edu/geotrans/eng/ch3en/conc3en/registships.html
  6. 6. Disadvantages Difficulty in identifying the real ship-owner Lack of safety policies for sailors Usage of old or out of date ships
  7. 7. Disadvantages Usage of old or out of date International ships Transport Workers The loss of ships Federation (ITF)’s- 2001 All of the world 99: ships Panama 15 Cyprus 8 St. Vincent 8 Cambodia 7 Source: http://www.philippinestoday.net/ofwcorner/July03/ofw703_2.htm
  8. 8. Disadvantages
  9. 9. SummaryDefinition Advantages Disadvantages
  10. 10. Thank for your listening
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