The biggest merchant fleets belong to countries that barely build ships.

A ship falls under the laws of the country whose flag it flies, whoever owns it. Panama, Liberia and the Marshall Islands therefore have the largest fleets in the world by tonnage. Shipowners choose them for low taxes, looser labour rules and fast registration. Over 40% of world tonnage sails under such "flags of convenience".

Useful: In accidents or labour disputes at sea, the flag decides, not the owner's headquarters.

Source: en.wikipedia.org

Handel RechtSchifffahrt

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