The Maritime Administration is charged with advocating for the U.S.-flag fleet and promoting the viability of the U.S. merchant marine. To inform the Administration in carrying out this mission, this report compares the operating costs of U.S.-flag vessels engaged in foreign commerce to the costs incurred by foreign-flag vessels. This comparison provides valuable insight to the Maritime Administration and the public regarding the global competitiveness of the U.S.-flag fleet. As of year-end 2010, the U.S.-flag fleet in foreign commerce was comprised of 60 ships participating in the Maritime Security Program (MSP), and roughly 50 other ships carrying commercial and preference cargo on various routes. By comparison, there were over 540 U.S.- owned vessels registered in 31 foreign countries, a business practice commonly referred to as flying a flag of convenience. The Marshall Islands, Singapore, and Liberia represent the top three registries, accounting for 31, 11, and 10 percent of U.S.-owned vessels, respectively. These registries are examples of open registries. A registry is considered open when more than 90 percent of its vessels are foreign-owned. Today, roughly 80 percent of the world fleet is operating under a flag of convenience from an open registry.
Comparison of U.S. and Foreign-Flag Operating Costs
2011
91 pages
Report
No indication
English
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