Top ship registries launch shared database to combat sanction evasion

The new Registry Information Sharing Compact includes the world’s largest ship registries – Liberia, Panama and the Marshall Islands – have come together to try and identify sanction busting vessels that frequently change registry and ownership to avoid be penalised.

Alfonso Castillero, CEO of the Liberian International Ship & Corporate Registry (LISCR), the world’s largest ship registry, delivered opening remarks at the launch, at the US’ State Department, about the Registry Information Sharing Compact (RISC) database.

The initiative, is created by states and reputable flags, aims to keep flag registries informed and up to date with vessels' backgrounds and any sanctions issues and to reduce “flag hopping” amongst vessels engaged in sanction evasion activities.

The joint press conference, held in Washington, DC, was supported by the US Department of State and included participation from several embassies representing various flags. The US works closely with maritime registries including the founding registries of Liberia, Marshall Islands and Panama.

"The Registry Information Sharing Compact (RISC) database marks a significant advancement in our collective efforts to maintain the integrity and security of global shipping. With this platform we are strengthening our defences and working together to uphold the highest standards of compliance and safety,” said Castillero.

Related:Russian LNG carrier ‘spoofing’ likely, says Rystad Energy

The RISC database is a free online tool for consultation among flags wishing to share and access details on vessels' backgrounds. It allows flag registries to share and research information on problem vessels that may be evading regulations or engaging in suspicious activities. By sharing this data, flag registries can be more informed, eliminate risks, and prevent flag-hopping when under investigation.