ICS Raises Alarm About Low-Quality, Sanctions-Busting Flag States

The ICS has issued a warning about the rising number of commercially-managed, previously-unknown flag administrations that are taking off in popularity in the sanctions-evasion market. These budget flags are among the lowest-performing options available in terms of fleet quality, but they offer the light regulatory touch and rock-bottom affordability that a small minority of shipowners seek out. 

The newly-emerging flags of choice for the sanctions-busting fleet include Cambodia, Eswat…