An Evaluation of Containership Registrations in Taiwan: Application of the Grey Relation Analysis Model

Abstract

Abstract To strengthen competitiveness, many shipowners have shifted their vessels’ registrations to open registers as flag of convenience (FOC) vessels. The tendency of flagging out in Taiwan is more serious. This paper adopts the analytic hierarchy process and grey relation analysis model to evaluate the relative attractiveness of different types of registers to containership corporations in Taiwan. The preferences of registry locations are also compared and analyzed. The study finds that the FOC locations of Panama and Liberia are the most preferred locations of vessel registrations for containership corporations in Taiwan, followed by the quasi-FOC locations of Singapore and Hong Kong. Other traditional maritime countries and Taiwan are the final options. Based on the findings of this study, some suggestions are proposed to the government as a reference in revising relevant shipping policies.