One Flag of Convenience less – Moldova is to stop FOC practice

Moldova government is considering a new law regulating the Moldova Flag Registry, in order to stop the Flag of Convenience practice. Under the new law, all the new applicants are to be approved by Ministry of Foreign Affairs. Vessels found to be violating international laws and rules are to be deprived of the flag. The Prime Minister of Moldova requested the authorized organizations to audit the existing fleet, three auditing companies from  Greece, Panama and the UK are to be employed for the task. Presently more than 400 merchant vessels are registered under Moldova flag. The Moldova flag is a known and popular flag of convenience, tainting the reputation and image of the Moldova State, which is aiming at the EU membership. Maritime Bulletin http://www.odin.tc

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