ISBN: | 978-5-5105-9516-1 |
High Quality Content by WIKIPEDIA articles! The term flag of convenience describes the business practice of registering a merchant ship in a sovereign state different from that of the ship`s owners, and flying that state`s civil ensign on the ship. Ships are registered under flags of convenience to reduce operating costs or avoid the regulations of the owner`s country. The closely related term open registry is used to describe an organization that will register ships owned by foreign entities.