It is to mark Merchant Navy Day and remember the servicemen who lost their lives in war.
Provost Billy Buchanan raised the flag early this morning.
Merchant Navy Day is observed in the UK and Canada to honour the sacrifices made during war and conflict.
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It officially recognises the sacrifices made by merchant seafarers in the two world wars and since.
Provost Buchanan said: “We must honour the brave men and women who kept our island nation afloat during both world wars and we celebrate our dependence on modern day merchant seafarers who are responsible for 95% of the UK’s imports including half the food we eat.
“Too often they are forgotten or an invisible service.
“By raising the red ensign we will ensure that at least on this day they are remembered.
In WW1, more than 3,000 British flagged merchant and fishing vessels were sunk, with the loss of 15,000 seamen.