Flag of convenience (FOC)

 

 

 

Flag of convenience (FOC)

 

Shipping terms glossary

 

Definition of Flag of convenience (FOC)

 

Term used by labor organizations about countries allowing unlimited registration of foreign-owned ships in order to achieve low wage levels and low or no taxation payable to the flag state. Some FOC- flag states had previously very lax control routines, or no control at all, concerning the vessels' technical standard and their seaworthiness.

 

Source : http://210.212.115.113:81/Anupam%20Varma/Shipping%20terms%20glossary.docx

link: http://210.212.115.113:81/

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Terminology about shipping

Shipping glossary index of terms

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Definition and meaning of Flag of convenience (FOC)

 

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Meaning of Flag of convenience (FOC)

 

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