Cook Islands registry removed from flag states’ information-sharing compact
“The Cook Islands flag registry has been removed from the Registry Information Sharing Compact, an agreement signed by leading registries to help curb sanctions-busting ploys such as ‘flag hopping’.”
“The RISC platform is a database for flag registries to share details about vessels they have deflagged so other members are aware of any history of illicit conduct. This, in theory, is aimed at preventing vessels removed from one registry over sanctionable activity to quickly move to the next one, a practice known as flag hopping.”
“However, the compact also creates conditions that allow certain registries with a higher risk appetite to essentially use RISC as a shopping list, scooping up tonnage ejected by their competitors to grow their fleets.”
“While membership of RISC is voluntary, the compact has gained widespread support and scrutiny from western governments with sanctions targeting Russian and Iranian shipping.”