In September 2015, the International Chamber of Shipping (ICS) stated that the term Flag of Convenience was dated and no longer relevant to modern shipping. Meanwhile, the International Transport Workers Federation (ITF) maintains a list of 34 countries whose registries have been declared Flags of Convenience by its Fair Practices Committee. The International Maritime Organisation (IMO) maintained a Black and White list of Shipping Registries with a Grey list of those registries not quite making the White list. The list system is to be dropped during 2018 and an individual ship list put on a Black list when the vessel fails to meet IMO requirements.
Explain the origins of the term Flag of Convenience and what it means. Then discuss the factors influencing the ship owners choice over where to register their vessel(s) today. Discuss what effect dropping the Black and White list system will have on owners choice of registry. Comment on the ICS/IMO perspective when set against that of the ITF.
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