Meaning of foreign-flag

for•eign-flag

Pronunciation: (fôr'in flag", for'-), [key]
— adj.
  1. (of a vessel or aircraft) having a registry under a nationality other than one's own: rivalry between U.S.-flag freighters and foreign-flag ships.
  2. (esp. of a ship) owned by a national of one country and registered under the maritime laws of another country: Some foreign-flag vessels are actually owned by American shipping companies.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.