Introduction

6.1 In a modern context where, for the reasons discussed in earlier chapters, the ‘flag of convenience’ label no longer carries a stigma on safety and compliance grounds; and where the vast majority of commercial tonnage is now operated from open registries – one challenge for the owner of any newbuilding or vessel purchased on the secondary market may rather be the burden of choice. Competition for business among the leading open registers is significant and often based on non-price considerations in circumstances where the available tax advantages between flag States may be broadly comparable.