Flying the Mongolian Flag in Hakodate Bay, Japan. Click to enlarge.
Flying the Mongolian Flag in Hakodate Bay, Japan. Click to enlarge.
One of the things that was so surprising about the hijacking of the Maersk Alabama was that it was an American flagged ship. Pirates rarely hijack ships registered in the US and that is intentional. They prefer not to face off with Navy Seals. Also, shipping companies often don't register in the US. The taxes are too high and the regulation too strict.
Shipping companies, just like pirates, prefer to exist in a world of little regulation. They register their ships in countries like Liberia, Panama and the Bahamas that offer lax regulation and lower taxes. If you fly the Bahamian flag (even if you're a Danish company with a Russian crew) you follow Bahamian labor laws, inspection rules and pay Bahamian taxes. That is how ships wind up flying the Mongolian flag - a country that has no coastline!
It's easy to sign up. You don't ever have to set foot in the country just download the application from the internet.
Of course if you get hijacked by pirates from a lawless country, the Mongolian navy is unlikely to come to your rescue. (yes they do have one. It consists of 3 boats, 2 guns and 7 sailors).
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