FINAL REPORT DECISION ANALYIS TOPIC SELECTING SHIP REGISTRY CLOSED OR OPEN

zs 동동동동동 TONGMYONG UNIVERSITY FINAL REPORT DECISION ANALYIS TOPIC: SELECTING SHIP REGISTRY: CLOSED OR OPEN Students: 레레레레 – 19330110 레레레레레레레레 – 19330123 레레레레레레레 – 19330109 Instructor: PhD Enrio Dagostini th Submission date: 16 June 2022 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat ABTRACT Ship registration is an official procedure that puts on a flag for the ship and allows it to trade commercially This study is aimed at figuring out whether a ship owner should register his ship in a closed registry or an opened registry and which factors are the most important in the deliberation process There are alternatives which are open registry and closed registry and criteria that were selected by researching previous studies in the ship registration field, by using Best – Worst Method (BWM), we have found that ships should be registered in opened registries Shipbuilding standard is the most important factor to be deliberated followed by taxation Key words: ship registration, open registry, closed registry, best – worst method TIEU LUAN MOI download : skknchat123@gmail.com moi nhat Table of Contents ABTRACT LIST OF FIGURE LIST OF TABLE LIST OF ABBREVIATIONS I INTRODUCTION II LITERATURE REVIEW III METHODOLOGY 14 IV DATA COLLECTION 16 V DATA ANALYSIS 17 STEP Formulation of the problem .17 STEP Find the best and the worst criterion 18 STEP Find the preference of the best criterion over all other criteria 20 STEP Find the preference of all other criteria over the worst criterion .21 STEP Estimate optimal weights 21 STEP Final scores of alternatives 23 VI RESULTS 27 VII CONCLUSION 28 REFERENCES .30 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat LIST OF FIGURE Figure Top 10 flag States in 2019 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat LIST OF TABLE Table Overview of respondents 16 Table Other to Most Vector 19 Table Other to Worst Vector 20 Table Optimal weights .22 Table Importance of alternatives under each criterion (respondent 7) 23 Table Normalized Values for respondent 24 Table Priority of alternatives (respondent 7) 24 Table Priorities for ship registration 25 Table Priority of alternatives under each criterion (full sample aggregate level) 26 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat LIST OF ABBREVIATIONS IMO UNCLOS BWM FOC ILO AHP STCW SOLAS MARPOL IOPP MCDM ANP SWOT TIEU LUAN MOI download : skknchat123@gmail.com moi nhat I INTRODUCTION The concept of freedom of navigation prevails in the high seas, according to the UNCLOS, which implies that the high seas are accessible to all states There are state-specific issues addressing the concept of freedom under this agreement, which involves the development of topics such as freedom of navigation and overflight Within the high seas, States cannot assert sovereignty or authority This unfettered access to the high seas applies to all vessels However, in terms of freedom of navigation, the UNCLOS of the Sea and public international law establish a framework that forbids conditions aboard vessels That is a reason why every vessel should have a nationality because of its registration under a state, which can allow the vessel to be registered under its regulations and utilize the high seas Significantly, a national flag is an official signature proving that a country assigns and authorizes a vessel or vehicle, which is under its jurisdiction and control in the administrative, technical, and social spheres of that country With the increasing demand of economic development, the purpose of our country's ships flying foreign flags for transportation and circulation purposes has led to the fact that many goods and exploitation at sea have also become bustling and developed Therefore, the registration and flying foreign flags is only a form as well as a measure to make circulation and anchoring much more convenient at international ports The laws of States regarding the registration of ships are divided into two categories include open registry and closed registry For the closed registry, it is administered by an individual country as a national registry for the registration of their own ships flying their own flag, owned, operated and manned by nationals of that country In this field, the owner of the ship should necessarily be from the country of registration and the place of business should be in the country of registration This registration also means that these ships may be requisitioned at time of war for the transportation of goods and people in the service of the nation On the other hand, it is common for maritime registries to display open registries in certain countries, although the owners of vessels can register their vessels under that country's flag despite the fact that there is no genuine relationship between the flag state and the vessel Open registers allow ship owners of other nationalities to flag and operate ships under their flag It is generally the case that the flag of that country will appear on the vessel Moreover, the laws of that country TIEU LUAN MOI download : skknchat123@gmail.com moi nhat will generally apply to the vessel and its crew while on the high seas To be specific, a ship could be traded more easily than the others if it registered with any registry mentioned above The second one is that registering the vessel in a different country than the one where the owner lives help them save money and reduce operating costs Moreover, it helps achieving lower administrative costs; in some cases, it also allows the ship to operate under less stringent regulations of the owner’s country As importantly, the ship owners are beneficial from tax incentives (tonnage tax), certification and security To be clearer, tonnage tax is a special tax regime for shipping companies under which a notional profit is calculated based on the number and size of ships operating and in which a standard corporate income tax rate is applied It is sometimes argued that open registers are associated with comparatively liberal tax regulations, labor rules, and environmental protection legislation, which are often lax and easily circumvented Panama and Liberia are the most popular open registry countries because they not require citizenship or residency requirements for ship owners The registration process in these countries is comparatively simple, largely online based, and offers ship owners tax-free money and inexpensive labor Registration providing ownership for a ship is very important for it to be able to participate in international trade relations, bringing benefits to the nation However, besides the benefits, there are still disadvantages that need to be mentioned to choose the best option for ship owners On the contrary, sailing a ship under the flag of convenience could have serious repercussions for seafarers working on the vessel Initially, ships sailed under open registry have been claimed to have more catastrophic working conditions than the others since such kinds of ships are operating under less stringent regulation There is a disagreement existing between the jurisdiction and the appropriate regulations of ship operations under the flag of convenience The next one is that seafarers are more at risk of being forced to work in severely hazardous situations with inadequate insurance and compensation in money Moreover, the disastrous drawback of sailing a ship is that it does not mandate fundamental seafarers' rights, such as the right of free creations or trade union organizations, the demand of achieving adequate salaries, health and safety workplace conditions, wage scales and so on The privileges mentioned above are reserved for sailors and may not be available on ships Finally, seafarers may not be allowed to take a nap between consecutive transportation duties as per standard guidelines TIEU LUAN MOI download : skknchat123@gmail.com moi nhat Figure Top 10 flag States in 2019 This figure above illustrates that this is top 10 flag states in 2019 It is not surprising that Panama remains at the top of the list by far, with the highest tonnage and boats registered under the flag, followed by Liberia and Marshall Islands According to the (ListLloyd's, 2019) Panama has 9,367 vessels flying its flag, some 4,486 ships ahead of China, the next-biggest in terms of number of vessels On the other hand, only countries including China, Hong Kong and Greece still apply closed registry, the remaining are open registry Although there have been a lot of research on selecting ship registry ships, our research is one of the first to use the best-worst method to find out which criteria are most important and least important It is highlight that some researchers applied various methodologies, e.g fuzzy, SWOT, and AHP, to investigate ship flag choice problems in the past Few used ANP method to study ship flag selection problems (Celik & Kandakoglu, 2012) used a fuzzy quantified Strength, Weakness, Opportunity and Threat (SWOT) to analyze the case of the flagging-out dilemma in Turkey Perepelkin, et.al (2010) proposed an improved methodology to measure flag performances for the shipping industries of various maritime countries in the world Kandakoglu, et.al (2009) introduced a multi-methodological approach for shipping registry selection in maritime transportation industry Lua, Fan & Li (2013) used individual ship registration data to analyze flag choice TIEU LUAN MOI download : skknchat123@gmail.com moi nhat To find the weights of the criteria, we interviewed nine experts in the field of industrial and academic via questionnaire, collecting comparison data needed for BWM Next, we determined the weights using BWM for these experts Finally, we used aggregation (based on a simple average) to determine the overall weights for the criteria Table shows the aggregated weights of the eight criteria based on the input provided by the experts The consistency ratios are not really close to zero ranging from 0.13 to 0.21, however we read other documents, researches and studies, they show that it can be accepted the high reliability of the results From Table 4, “ship building standards” has the highest social sustainability criterion weight of 0.224 This was followed by “trading routes” and “Bureaucratic control”, with criterion weights of 0.141 and 0.129 respectively “Availability of well – trained seafarers” has a weight of 0.080 and is ranked as the least important criterion, which is not surprising, and "Crew's wage", which ranked second, is closely linked to this criterion STEP Final scores of alternatives We need to calculate the scores for each of the alternatives Respondents were asked to rate the different alternatives using a 1-9 scale where refers to not important at all and to extremely important Table Importance of alternatives under each criterion (respondent 7) Alternative/Criteria Open Registry Closed Registry 23 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat Table presents the responses from respondent number as an example The values were normalized by dividing each values by their column-wise maximum value following a linear normalization approach Table Normalized Values for respondent Alternative/ Criteria Weights Open Registry Closed Registry Table shows the normalized values in relation to respondent number Table Priority of alternatives (respondent 7) Alternative /Criteria Open Registry Closed Registry Table presents the priority of alternatives for respondent number The values are calculated for each of the eight criteria under each of the two alternatives by multiplying the normalized values 24 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat as obtained in table by their respective weights Finally, a row-wise total is taken to obtain the final priority score for each of the two alternatives The process can be expressed as follow: =∑ =1 Where, is the final priority value of the alternative i and expresses the normalized values of criterion j under alternative i Following the same procedure, it is possible to calculate the priorities of ship registry for all respondents as shown in table Table Priorities for ship registration Respondent Respondent Mean 25 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat In the initial stage of the questionnaire, we asked respondent about their field, just only one respondent in Industrial-commercial and other in academic He/she choose open registry is better, which is not much different from the final result We also inquired about the respondents' country of residence and discovered that four out of nine live in Korea After calculating, the average score of open registration for respondents living in Korea is 0.924, while the average score of closed registry is 0.891 Non-Koreans' results are similar to those of those who not live in Korea They are all of the opinion that open register is better than closed registry Table Priority of alternatives under each criterion (full sample aggregate level) Alternative/Criteria Open registry Close registry The final results of the study can be found in Table The results provide some insight to choose ship registration Base on the average rate of each respondent, we calculate the final result that open registry with 0.1085 point is higher than close registry so open registry is the best choice for ship owners to register their ships It is easy to understand because with open registry ship owner has more option of choosing the country which they think it suitable without constraint on complying with their nation’s rules Furthermore, ship owners can cut costs due to lower taxes in the registered nation and a cheaper labor market Shipbuilding standards and Tax are the most important criteria needed to be considered One of the most crucial aspects to consider while shipping at sea is the ship's quality All agreed-upon requirements for safety and durability must be met by the ship The first thing that must be transported for a successful journey is a reliable mode of transportation Moreover, vessels which make efforts to environmental preservation is offered annual tax discounted up to 50% for years (Services Merchant Marine) The second most important creation is tax, which has a direct impact on the ship owner's earnings Ship registration 26 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat is taxed differently in each nation Ship owners are mainly interested about selecting a jurisdiction with a low tax rate VI RESULTS It can be referred from the data analysis that opened registry is a better choice for ship owner with out selections It is completely understandable when looking at the top 10 flag states in the world where flag states are open registries With the benefit of tax and regulations, ship owner often finds it more commercially comfortable to operate a ship under an open registry’s flag Looking from the respondents’ nationalities point of view, both Korea and Vietnamese respondents chose open registry The data shows that open registry is more preferable compared to closed registry with higher mean in out of responses Shipbuilding standards is the most important criterion when selecting the ship’s flag with the mean that completely outweighs other criteria (0.224) The second place goes to tax with 0.151 Generally, it is thought that open registries usually have easier standard requirements for shipbuilding compared to closed registries that it is harder to register a ship in closed registries However, as mentioned before, some registries (for example Hong Kong) nowadays stated that once the ship is complied with IMO’s conventions, it is deemed to be complied with their shipbuilding standards Other countries (such as China - a closed registry or Panama – an opened registry) have a list of certificates belong to IMO in safety and technical as requirements for ship registration So that there is not much difference in shipbuilding standards between the kinds of ship registration However, some closed registries such as China requires that the vessel shall not only be owned by but also be constructed in China As a result, ship owner cannot register his ship if it was constructed in Korea or Japan, or he has to pay “27.53% in import duties and valueadded tax” if the ship owner is insisted on register his ship in China Making shipbuilding the most important criterion to be considered Each country has its own taxing system with different basic fees and discounting policy That is how open registries such Panama or Marshall Islands encourage ship owners to register ships in those countries So that, taxation ranking in the second place is reasonable and unsurprising 27 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat The results also show that availability of well – trained seafarers and crew's wage are the least important factors in ship registration Seafarers who want to work on board of the ship need to have certificates in his desired position based on STCW So that, basically, seafarers all have specific knowledge to work on board of the ship The crew’s wage is a more significant factor as crew’s salaries vary from country to country The problem is that not all nations allow the ship’s seafarers to be outsourced from countries with cheap labor cost such as Philippines or China Therefore, ship owner should consider carefully between the crew’s wage and nationality Looking in table – the optimal weights and table – priorities for ship registration, Korean respondents chose differently in the most important criterion but chose nearly the same (3/4) the least important criterion – ship’s type Meanwhile, most Vietnamese respondents selected shipbuilding standard to be the best criterion Tax and crew’s wage share the same amount of choices as the least important criteria There are results have the consistency ratio between 0.1 and 0.2 and with that between 0.2 and 0.22 Overall these numbers are acceptable As mentioned before, results from using BMW are always consistent and those numbers only show the level of reliability So that with the consistency below 0.22, we are confident that our data is reliable VII CONCLUSION A ship's registration reflects its acquisition of nationality Once a vessel includes a nationality and therefore the right to fly a state’s flag, it also has the proper to cruise on the high seas it's critical to emphasize here that freedom of navigation on the high seas implies that the ocean is on the market to all or any States However, every ship must have a legal and national character This legal personality will primarily safeguard the vessel under law of nations The objective of this dissertation was to find out a multiple-criteria decision making for shipping registry selection by ship owners The Best – Worst Method (BWM) is utilized to find out the influencing factors in the decision-making procedure of shipping registry selection by ship owners This is done in a fashion that provides objective assessment of the issues that arise in the highly specialized knowledge’s professors in the shipping industry 28 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat The results show that the practical experts think that ship building standards is the most important factor Availability of well – trained seafarers is the least important factor The practical experts think that related taxes, trading routes, and bureaucratic control are important sub-criteria And open registry is the best alternative as the shipping registry system According to research results, shipbuilding standards are one of the most important criteria for selecting a ship's registry for ship owners However, the shipbuilding standard linked to IMO, which is a common convention to be followed, which leads to every state that enables ships to enter its register is required to approve IMO treaties and International Conventions It is also responsible for ensuring that the ship owners follow these norms and tools Besides, taxes also play an indispensable role in generating profits That will be an equally important criterion that ship owners need to consider To be more specific, revenue earned by Liberia's marine register, the world's second biggest Open Registry State, was projected to be roughly $18 million per year, accounting for 25% of national income (SchoenJohn, 2003) Similarly, while Panama Flag operates over 21.5 percent of all boats trading in the world's oceans now, compared to only 12.2 percent for Liberia (UNCTAD, 2013), Panama's income from open registry services is plainly far greater That is a reason why ship owner should consider significantly on tax because of economic benefit that all ship owners want to aim for This research specifically is examined and identify factors affecting the ship owner’s decision to register a ship However, the empirical results reported herein should be considered in the light of some limitations The research uses data gather from selected samples which includes level of knowledge to avoid of having bias data and maintain quality of the data besides to cooperates with time constraints First, research need to be done in longer period, unfortunately this study might only have one month given to complete and to be completed Ample of time is needed to complete this study properly The second limit is about the data limit Because this article is highly academic, we can only find a handful of professionals relevant to the shipping industry with a master's or higher degree within our reach More specifically, we sent a survey to 10 people, one respondent was removed With a small number of respondents to the survey, the results given will be subjective in the opinion of experts In addition, the next limitation that we have to face to is theoretical Because this is a highly academic topic with many complex theories and requires understanding of international law of the sea, so that with the limited ability to access knowledge 29 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat in this regard, this study has not really studied much in depth There are some modifications we would make if we were to design this study again Most crucially, we would use a longer time frame in order to collect participation across the whole study process, from original conception through dissemination In principle, we would attempt to recruit significantly more possible case studies so that we would have a broader selection of which to pursue once our study began in earnest REFERENCES ERI's Salary Expert Database (n.d.) 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International Oil Pollution Prevention Certificate (IOPP Certificate) Retrieved from Wartsila: https://www.wartsila.com/encyclopedia/term/international-oil-pollution-preventioncertificate-(iopp-certificate) Ziaul, Henrik, & Mariia (2020) Identifying the appropriate governance model for green port management: Applying Analytic Network Process and Best-Worst methods to ports in the Indian Ocean Rim Retrieved from Science Direct: https://www.sciencedirect.com/science/article/pii/S0959652620322034?fbclid=IwAR1u8NuVB4 CdVj3FFBqe1dY_DWmBxqxqAHYz0qWZS8aA-uv_K8ME0I4cC0Q 34 TIEU LUAN MOI download : skknchat123@gmail.com moi nhat ... his ship in a closed registry or an opened registry and which factors are the most important in the deliberation process There are alternatives which are open registry and closed registry and... two categories include open registry and closed registry For the closed registry, it is administered by an individual country as a national registry for the registration of their own ships flying... is the first and foremost strategy in operating a ship There are main types of ship registry: closed registry and open registry Closed registration is the fundamental type of ship registration