China Looks to Attract Vessels with International Registry
China has approved the development of a Dongjiang Free Trade Port Zone registry that would expand company and crew eligibility in hopes of bringing more vessels back to their home flag.
The Tianjin Dongjiang flag would allow for overseas Chinese companies to register and up to 30% of a vessel's crew members to be non-nationals. These regulations would expand on China's current policies that allow for a vessel to be funded up to 50% by foreign capital and does not permit the hiring of foreign seafarers.
The country tried to establish a similar registry in its free trade port of Yangshan last year yet as of now the register has only signed two vessels.
Both endeavors display the trend toward increasing globalization of the ship registration business as the OGSR has observed over the past decade.
