| Abstract: | This paper examines the casualty rates of flag states in order to determine whether Flags of Convenience have a worse record than other types of register. The analysis uses the Lloyd's casualty database for the years 1997-1999. The data reveal that FOCs do, indeed, have a worse record than either second/international registers and national flags, but that there are considerable variations within the FOC group itself. This leads the authors to conclude that it is the newer, faster growing FOCs that are most likely to have inferior records to other flag states, and that this is due to the very nature of their, largely profit-making, regimes. |
