D. REGISTRATION OF SHIPS
1. Flags of registration
The five largest fleets by flag of registration in
January 2013, and in terms of dwt, were Panama
(21.5 per cent of the world total dwt), Liberia
(12.2 per cent), the Marshall Islands (8.6 per cent),
Hong Kong, China (8 per cent) and Singapore
(5.5 per cent) (see table 2.6 for details of the 35
flags of registration with the largest registered
fleets). The latter two were also those with the
highest year-on-year growth, increasing their
tonnage by more than 16 per cent. As regards
vessel types, Liberia caters largely for oil tankers,
while Panama flags a high number of dry-bulk
carriers. The Bahamas has many “other” vessels,
including a large number of cruise ships.
The traditional distinction between “national” flagged
fleets and “open registers” is becoming increasingly
blurred. Among the top 35 fleets, there are 11
that could be considered purely open as less than
2 per cent of the ships flying their flags belong to
owners from the same country. At the other end of
the spectrum, there are 8 flags that are used almost
D. REGISTRATION OF SHIPS
1. Flags of registration
The five largest fleets by flag of registration in
January 2013, and in terms of dwt, were Panama
(21.5 per cent of the world total dwt), Liberia
(12.2 per cent), the Marshall Islands (8.6 per cent),
Hong Kong, China (8 per cent) and Singapore
(5.5 per cent) (see table 2.6 for details of the 35
flags of registration with the largest registered
fleets). The latter two were also those with the
highest year-on-year growth, increasing their
tonnage by more than 16 per cent. As regards
vessel types, Liberia caters largely for oil tankers,
while Panama flags a high number of dry-bulk
carriers. The Bahamas has many “other” vessels,
including a large number of cruise ships.
The traditional distinction between “national” flagged
fleets and “open registers” is becoming increasingly
blurred. Among the top 35 fleets, there are 11
that could be considered purely open as less than
2 per cent of the ships flying their flags belong to
owners from the same country. At the other end of
the spectrum, there are 8 flags that are used almost
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