Secrets of Merchant Ships - Why Do Ships Use Flags of Convenience?

Under international law, every merchant ship must be registered with a country, known as its flag state. But there are famous flag countries that everybody knows. There is no one traveling on the open seas and not seeing a Panama or Liberia flagged ship.
Flag of convenience (FOC) is a business practice whereby a ship's owners register a merchant ship in a ship register of a country other than that of the ship's owners, and the ship flies the civil ensign of that country, called the flag state.
The term "flag of convenience" has been used since the 1950s. A registry which does not have a nationality or residency requirement for ship registration is often described as an open registry. Panama, for example, offers the advantages of easier registration (often online) and the ability to employ cheaper foreign labour. Furthermore, the foreign owners pay no income taxes.
According to IHS Markit, in March 2017, Panama had 8,052 ships on its registry, Singapore had 3,574 ships, Liberia had 3,277 ships, the Marshall Islands had 3,244 ships and Hong Kong had 2,594 ships.
Chapters
0:00 Intro
0:12 Ethic
0:24 International Laws
0:40 Panama
1:54 Flag Of Convenience
2:27 Liberia
2:46 Statistics
3:17 Open Registry
3:41 Problems
5:19 Amoco Cadiz
5:30 Law Amendments
5:56 Port State Control
6:56 Survey
7:10 Next Video
7:21 Outro
Literature
DeSombre, Elizabeth R. (2006). Flagging standards: globalization and environmental, safety, and labor regulations at sea. MIT Press Books
That the flag state gives the right to fly its flag, see United Nations, 1982, Article 91. That this flag is called a civil ensign, see De Kleer, 2007, p. 37.
What do FOC's mean to seafarers? International Transport Workers' Federation Archived June 11, 2009, at the Wayback Machine
Langewiesche, William. The Outlaw Sea - a world of freedom, chaos, and crime. North Point Press. New York. 2004.
OFW - Filipino Seafarer's Tax Exemption". Retrieved 24 January 2016.
"Sailors and Marine Oilers". Bureau of Labor Statistics. 2010-05-14. Retrieved 2010-07-02.
International Transport Workers' Federation. "Flags of Convenience campaign". Archived from the original on 2005-12-12. Retrieved 2007
www.traveller....
angewiesche, William. The Outlaw Sea - a world of freedom, chaos, and crime. North Point Press. New York. 2004.
Information on the Liberian Ship Registry, GlobalSecurity.org
www.itfglobal....
www.marineinsi...
Environmental Justice Foundation. Lowering The Flag: Ending the Use of Flags of Convenience by Pirate Fishing Vessels (PDF). London. ISBN 978-1-904523-19-2.
Secretary of the Latin American Agreement on Port State Control (2008).
Secretariat of the Black Sea Memorandum of Understanding on Port State Control (2008). "Annual Report for 2008" (PDF). Istanbul: Black Sea Memorandum of Understanding on Port State Control.
Visual Sources
By Anefo - proxy.handle.ne..., CC0, commons.wikime...
By Unknown author - This image is available from the United States Library of Congress's Prints and Photographs divisionunder the digital ID cph.3c23257.This tag does not indicate the copyright status of the attached work. A normal copyright tag is still required. See Commons:Licensing for more information., Public Domain, commons.wikime...
Public Domain, commons.wikime...
By Haus - Own work, CC BY-SA 3.0, commons.wikime...
By Unknown author - US Coast Guard - 100421-G-XXXXL- Deepwater Horizon fire (Direct link), Public Domain, commons.wikime...
The VLCC tanker Amoco Cadiz oil spill. After the ship broke apart, its total cargo of 68.7 million gallons of oil spilled into the sea. France, Brittany, Portsall Rocks. 1978 March 16.
Dominik Reiter's photo on Pexels
Tom Fisk's video on Pexels
Ulrich Scharwächter's video on Pexels
Kelly Lacy's video on Pexels
Tom Fisk's video on Pexels
Kelly Lacy's video on Pexels
Kelly Lacy's video on Pexels
cottonbro's video on Pexels
Parth Patel's video on Pexels
Kelly Lacy's video on Pexels
Mudassir Ali's video on Pexels
Alexander Bobrov's video on Pexels
Kelly Lacy's video on Pexels
Enrique Hoyos's video on Pexels
CityXcape's video on Pexels
Tom Fisk's video on Pexels
Albin Berlin's photo on Pexels
Linda Tripaldi's video on Pexels
Fauxels's video on Pexels
svs.gsfc.nasa....
Tom Fisk Pexels For Cover Photo...
Proteales Productions - M.Kuru - 2020

[@guneyg1613]

perfect

[@ugurozdemir9890]

i would definitely register to country that offers lower tax rate, if there is no consequences for this action even though it's so inconvenient i think

[@antokj5687]

Wk