Hi MrFlappy,
As Jim said, ships are commonly registered in countries other than those of the owners for various reasons. Panama and Liberia are among the most popular.
Those countries are more attractive places because, in addition to lower fees, they usually don’t insist upon actually seeing the vessels, or impose onerous requirements such as seaworthiness. Foreign registry helps to shield the owners from certain liabilities.
For instance: Titanic, an American owned ship, was registered in Liverpool because White Star Lines, then an American owned company, had its European headquarters there.
Fairmount Sherpa is of Panamanian registry, as are many merchant ships.
Marty
