The ship is flying a flag.

这艘船悬挂着一面旗帜。

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Call these projects "stimulus", and suddenly, a ship headed for the reef of economic disaster might sail through congress flying the flag of economic recovery.

把这些项目称为“刺激”，突然之间，一艘驶向经济灾难暗礁的船可能会打着经济复苏的旗号在国会通过。

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The ship was flying the British flag.

那船悬挂着英国旗。

《新英汉大辞典》

"Your forces," he wrote, "fired this morning on a civilian ship flying the flag of my government.

VOA: special.2009.07.23

The large number of sails the Flying Cloud could carry increased the speed of the ship.

VOA: special.2009.12.23

The Flying Cloud was a new kind of ship.

VOA: special.2009.12.23

Some EU countries believe the country under whose flag the ship is flying must agree to the inspection, something that could significantly undercut the measure's effectiveness.

WSJ: Syria Says It Has Chemical Weapons

Italian authorities are heading the investigation into the Costa Concordia accident, because the ship was flying under the Italian flag.

WSJ: Cruise Operators See Shares Fall, Defend Safety

The ship has been flying a Curacao flag, but it will be switched to a Russian flag "in order to avoid a possible detention of the ship, " the state-run Itar-Tass news agency reported.

CNN: Jordan grants asylum to Syrian pilot who defects