EURODAM - Nassau vs. Rotterdam

So looking at that Italian blog for the Eurodam again they've added new pictures and I'm COMPLETELY confused.

In earlier pictures you can clearly see that they're saying

EURODAM

ROTTERDAM

for where the ship is flagged.

Yet I just came across this aft shot and it's saying she's flagged in the Bahamas...

WHat's going on? Is there something I'm unaware of that happens before Rotterdam takes possession and ALL ships start off flagged in the Bahamas or something?

Someone please be able to answer this! :confused:

Thanks!

(If you can't view the picture too well, they're full size on the blog pages. It also looks like they're discussing it but I don't know THAT MUCH Italian. Page is here: http://www.crocieristi.it/forum/viewtopic.php?f=67&t=2465&st=0&sk=t&sd=a&start=15 ) Thanks!

Shipyards have to register ships somewhere before they hit the water.

The Fincantieri shipyards register their ships in the Bahamas, and it will remain registered there as long as Fincantieri still owns the vessel - however, the letters for "Rotterdam" are already welded to the hull.

When HAL takes ownership next year, they will register the ship in the Netherlands, and the letters for "Rotterdam" be painted white.