flag of convenience(The term "flag of convenience" describes the business practice of registering a merchant ship in a sovereign state different from that of the ship's owners, and flying that state's civil ensign on the ship. Ships are registered under flags of convenience to reduce operating costs or avoid the regulations of the owner's country. Panama is currently the world's largest flag state, with almost a quarter of the world's ocean-going tonnage registered there. wiki Alexander Demidov)
