Changing Flags

South Africa Introducing Tonnage Tax

South Africa will introduce the tonnage tax system in early 2013, with the goal of attracting more vessels to its registry.

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UK Accounting Firm Advises Shipowners about New Taxation Policies

Moore Stephens has informed clients that HMRC has extended anti-avoidance legislation and explains how shipowners could be affected.

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Industry Lawyer Skeptical about German Shipowners' Association's Flag Fundraising Scheme

Maritime lawyer Hans-Heinrich Nöll is uncertain of the effectiveness of the German shipowners' association VDR's current plan to increase registrations with the national and EU flags.

VDR's idea is to charge shipowners a fee around €15,000 to obtain a permit to flag out a ship, and use this revenue to help fund training programs on German and EU-flagged vessels.

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European Banks Have Little Interest in Turkish Flag

Turkish shipowners are struggling to find financiers for nationally registered vessels.

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German owners threaten to flag out over insufficient anti-piracy legislation

German shipowners have threatened to leave the German flag pending legislation that would allow them to contract private maritime security companies to counter piracy.

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USCG Seeking Comments on Draft Navigation and Vessel Inspection Circular Legislation

The United States Coast Guard is seeking comments on its draft Navigation and Vessel Inspection Circular   (NVIC) regarding the inspection and certification process for foreign-flag vessels transitioning to the U.S.

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Maersk Line, Limited Reflags First of Two Heavy-Lift Vessels with US

As part of a joint venture with Rickmers Maritime, Maersk Line, Limited (MLL) has reflagged the first of two major heavy-lift vessels from the Marshall Islands to the U.S.

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ITF Declares Faroe Islands ‘Flag of Convenience’

The ITF has indicated the Faroe Islands, a second register with national and international components, as the latest addition to their list of "flags of convenience."

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German owners express need to increase EU-flagged tonnage

German owners have expressed concern over the need to increase the number of vessels registered with European flag states in order to benefit from tonnage-tax policies.

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Dutch shipowner will flag out due to national ban of armed guards

Dutch shipowner Seatrade Groningen has begun to remove vessels that trade in areas at high-risk for piracy from the national flag as a result of the registry's ban on armed guards.

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