Shipping companies
There is a wide range of shipping companies from serious-minded, high quality shipping companies to sub-standard operators. It is estimated that sub-standard shipping accounts for around 10% of the world fleet.
Register
Ships are often registered in so-called flags of convenience.
Cheap flags like Liberia, Belize, Bolivia and Panama that provide financial
benefit. The ships' owner is mostly based in another country. And the vessel
can be chartered by a company in yet another country. The crew is very often
international. Most old, single hull oil
tankers sail under flags of convenience.
Scenarios All kinds of scenarios are possible. Shipowners can sell a ship. And then charter it back from the new owner. Or sell it to a nephew. They can rename and reflag the ship.
An example is vessel X. A general purpose ship built in Poland, 1983. It delivers old refrigerators and cars from Europe to West-Africa. The owner is based in Romania. But the registered owner is registered in Panama. Captain and officers are Russian. And the crew is half Indian, half Philippine.
Insurance
A Dutch company charters the ship. It pays the rent to a bank account in Luxembourg. The hull insurance is based in London. But the cargo insurance is Dutch. The management of the ship and the crew is based in Latvia.
Remarkable ships Pacific Princess ('Love Boat') is on the Greenpeace list. More remarkable ships...
Are you connected to the shipping industry, a shipspotter, a harbourmaster, a crew member or in any other way able to localize the positions of ships? We need your help!
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