In the shipping sector, a Flag State refers to a nation where shipowners or shipping companies get their commercial ships or recreational vessels registered. Hence, the registered vessels have to carry the flag of that state.
The vessel is then bound to the rules and regulations of the state’s maritime authority in terms of legal disputes, protections, tax payments and other benefits. In this article let us have a look at the largest flag states in the world.
1. Panama Marine AuthorityPanama is a...
https://www.marineinsight.com/maritime-law/top-10-largest-flag-states-in-the-shipping-industry/