Sea Ports
Much of world trade is carried out in the various countries’ seaports. A lot of tonnage is exported and imported by means of shipping lines that operate a large fleet of ocean-going vessels such as crude oil, raw steel and agricultural commodities like wheat, rice, sorghum and corn. Countries prefer to grant the cabotage rights to domestic carriers to increase their tax revenue collections. Concessions granted to local vessels promote the growth of indigenous tonnage and to encourage foreign carriers to register their own vessels domestically.
Barcelona sunset
This practice of port restrictions by foreign vessels has led many firms to adopt a “flag of convenience” concept in their worldwide operations. They tend to register their ships in countries that impose lower taxes such as small island nations which allow them to become that nation’s flag carrier. A clear example is a Greek-owned ship that carries a Panama registration and flag. A major concern among seaport operators nowadays is the threat of infiltration by terrorists who ship in dangerous cargoes or hazardous materials used in biological warfare. Lots of security measures have been implemented to thwart this threat early.
Leave a Reply
Recommended Sites | |
Why cruises are the holiday you never forget - | Avoid disappointment next year and make sure your world cup tickets are authentic. - |