Oi! Leave me out of this...
- Apr 8, 2006
But they register these things in Panama because Panama are rather lax in their regulations of shipping. These shipping companies use Panama to escape stricter home country regulations and flying Panama flag allows them to also run on cheap foreign labour which would otherwise not be allowed in their home territories.
That relates to things like the ship and workers on the ship and such... but it doesn't have sway over the shipping contracts etc, international maritime law comes into play and that is a fairly complex but level playing field. If a big shipping outfit is hit with a delayed delivery penalty because of this ship being stuck you can be damned sure civil suits will follow to recover that penalty from the Ever Given ship owners.