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flaggings
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Definitions of flaggings in various dictionaries:
noun - flagstones collectively
noun - a walk of flagstones
noun - a paved surface
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Flaggings might refer to |
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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 is often used pejoratively, and the practice is regarded as contentious. Each merchant ship is required by international law to be registered in a registry created by a country, and a ship is subject to the laws of that country, which are used also if the ship is involved in a case under admiralty law. A ship's owners may elect to register a ship in a foreign country which enables it to avoid the regulations of the owners’ country which may, for example, have stricter safety standards. They may also select a jurisdiction to reduce operating costs, bypassing laws that protect the wages and working conditions of mariners. 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. * The modern practice of ships being registered in a foreign country began in the 1920s in the United States when shipowners, frustrated by increased regulations and rising labor costs, began to register their ships in Panama. The use of open registries steadily increased, and in 1968, Liberia grew to surpass the United Kingdom as the world's largest ship register. As of 2009, more than half of the world’s merchant ships were registered with open registries, and almost 40% of the entire world fleet, in terms of deadweight tonnage, were registered in Panama, Liberia, and the Marshall Islands. In 2006, up to 20% of high-seas fishing vessels were registered in states they were not connected to. 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.Open registries have been criticised, mainly by trade union organisations based in developed countries, especially those of Europe. One criticism is that shipowners who want to hide their ownership may select a flag-of-convenience jurisdiction which enables them to be legally anonymous. Some ships with flags of convenience have been found engaging in crime, offer substandard working conditions, and negatively impact the environment, primarily through illegal, unreported and unregulated fishing. Shipowners may select a jurisdiction with measurement rules that reduce the certified GRT size of a ship, so as to reduce subsequent port of call dock dues. Such was a consideration when Carnival Cruise Line changed the flag of the RMS Empress of Canada in 1972 to that of Panama. In 2011, Cunard Cruise line registered all its s... |