Norwegian International Ship (NIS) Register: Pros and Cons
Introduction
The concept of ship registration dates back to the time when vessels started to sail under national flags. Belonging to different countries, the nationality of a ship provides not only protection of the owners rights, support and other advantages, but also responsibilities and certain limitations. Registration means subjecting the ship to the jurisdiction of a country. However, the ways and approaches to ship registration were not rigid and inflexible. Prior to the 1980s, national registers were the only phenomenon in the ship registration practice. But the so-called open registers appeared due to several developing countries, such as Panama, Liberia and the Bahamas. They provided more flexible conditions and lower costs than national registers. Ship owners were attracted by open registers to become more competitive in comparison with their rivals.
