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 although common, the practice is sometimes regarded as contentious.
Lloyd's Register Group Limited, trading as Lloyd's Register (LR), is a technical and professional services organisation and a maritime classification society, wholly owned by the Lloyd’s Register Foundation, a UK charity dedicated to research and education in science and engineering. The organisation dates to 1760. Its stated aims are to enhance the safety of life, property, and the environment, by helping its clients to improve the safety and performance of complex projects, supply chains and critical infrastructure.
Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty. The three main types of charter are: demise charter, voyage charter, and time charter.
Australian Maritime Safety Authority (AMSA) is an Australian statutory authority responsible for the regulation and safety oversight of Australia's shipping fleet and management of Australia's international maritime obligations. The authority has jurisdiction over Australia's exclusive economic zone which covers an area of 11,000,000 square kilometres (4,200,000 sq mi). AMSA maintains Australia's shipping registries: the general and the international shipping registers.
The International Register of Shipping or IS was established in 1993, and is an independent classification society which provides classification, certification, verification and advisory services. The International Register of Shipping also offers consulting services well suited for the shipping and offshore industry.
The American Bureau of Shipping (ABS) is an American maritime classification society established in 1862. Its stated mission to promote the security of life, property, and the natural environment, primarily through the development and verification of standards for the design, construction and operational maintenance of marine and offshore assets.
A shipowner, ship owner or ship-owner is the owner of a ship. They can be merchant vessels involved in the shipping industry or non commercially owned. In the commercial sense of the term, a shipowner is someone who equips and exploits a ship, usually for delivering cargo at a certain freight rate, either as a per freight rate or based on hire. Shipowners typically hire a licensed crew and captain rather than take charge of the vessel in person. Usually the shipowner is organized through a company, but also people and investment funds can be shipowners. If owned by a ship company, the shipowner usually performs technical management of the vessel through the company, though this can also be outsourced or relayed onto the shipper through bareboat charter.
A ship classification society or ship classification organisation is a non-governmental organization that establishes and maintains technical standards for the construction and operation of ships and offshore structures. Classification societies certify that the construction of a vessel comply with relevant standards and carry out regular surveys in service to ensure continuing compliance with the standards. Currently, more than 50 organizations describe their activities as including marine classification, twelve of which are members of the International Association of Classification Societies.
A charterparty is a maritime contract between a shipowner and a "charterer" for the hire of either a ship for the carriage of passengers or cargo, or a yacht for leisure.
The flag state of a merchant vessel is the jurisdiction under whose laws the vessel is registered or licensed, and is deemed the nationality of the vessel. A merchant vessel must be registered and can only be registered in one jurisdiction, but may change the jurisdiction in which it is registered. The flag state has the authority and responsibility to enforce regulations over vessels registered under its flag, including those relating to inspection, certification, and issuance of safety and pollution prevention documents. As a ship operates under the laws of its flag state, these laws are applicable if the ship is involved in an admiralty case.
The MV Erika was a tanker built in 1975 and last chartered by Total-Fina-Elf. She sank off the coast of France in 1999, causing a major environmental disaster.
The Germanischer Lloyd SE was a classification society based in the city of Hamburg, Germany. It ceased to exist as an independent entity in September 2013 as a result of its merger with Norway's DNV to become DNV GL.
MV Maria Reina is a Panamanian container ship. The 100-metre (330 ft) long ship was built at Wuhu Shipyard in Wuhu, China in 1997 as Steamers Future. Originally owned by Singapore's Keppel Corporation, she has had three owners, been registered under three flags, and been renamed ten times.
Indian Register of Shipping (IRClass) is an internationally recognised, independent ship classification society, founded in India in 1975. It is a public limited company incorporated under Section 25 of the Indian Companies Act 1956 (Section 8 of Indian Companies Act 2013). It is a Non-Profit organisation, Public undertaking and a member of the 12 member International Association of Classification Societies (IACS). It was inducted into IACS along with Croatian Register of Shipping (CRS) and Polish Register of Shipping (PRS).
Affreightment is a legal term relating to shipping.
Croatian Register of Shipping, also known as CRS, is an independent classification society established in 1949. It is a non-profit organisation working on the marine market, developing technical rules and supervising their implementation, managing risk and performing surveys on ships. The Society's head office is in Split.
The port of Hong Kong is a deep water port located in southern China. It is one of the hub ports serving the South-East and East Asia region, and is a gateway to mainland China. The city of Hong Kong began as a colony of the United Kingdom. It was a free port, and became an international trade center connecting land and sea transport between China and other countries. The port has mature infrastructure and well-developed air-sea-land transport. It helps Hong Kong maintain its position on international trade centre and transshipment hub.
The Russian Maritime Register of Shipping (RMRS) maintains a ship register of the Russian Federation, based in Saint Petersburg, and is a marine classification society. Its activities aim to enhance safety of navigation, safety of life at sea, security of ships, safe carriage of cargo, environmental safety of ships, prevention of pollution from ships, and performance of authorisations issued by maritime administrations and customers.
Vessel safety surveys are inspections of the structure and equipment of a vessel to assess the condition of the surveyed items and check that they comply with legal or classification society requirements for insurance and registration. They may occur at any time when there is reason to suspect that the condition has changed significantly since the previous survey, and the first survey is generally during construction or before first registration. The criteria for acceptance are defined by the licensing or registration authority for a variety of equipment vital to the safe operation of the vessel, such as safety equipment, lifting equipment, hull structure, static stability, ground tackle, propulsion machinery, auxiliary machinery, etc. The SOLAS Convention, specifies safety equipment for commercial vessels operating internationally.
Autonomous and Remote Navigation Trial Project is the trial of maritime autonomous surface ships (MASS) in commercial operations hold within 2020 in three different sea water areas of Russia.
