Flag of convenience scheme retired
The days of cocaine smuggling, illegal fishing and human trafficking using ships bearing the Cambodian flag appear to have come to an end as government officials claim that, as of today, all foreign-owned ships operating through Cambodia’s “flag of convenience” scheme must be stripped of their designation, and the world’s ports should no longer grant them access. Following a 2015 decision to close down the business loophole, which allows foreign-owned merchant ships to avoid restrictions and financial charges in their home countries, foreign-owned ships will no longer be allowed to fly the Cambodian flag, a Ministry of Public Works and Transport (MPWT) official said yesterday. …
Kali Kotoski
http://www.phnompenhpost.com/business/flag-convenience-scheme-retired
