Clarksons Research’s latest World Fleet Monitor highlights record levels of flag-hopping in 2025 as shipowners navigate intensifying geopolitical pressures. Maritime analytics firm Windward reports 57% of sanctioned tankers are falsely flagged or untraceable in IMO databases, with 12 fraudulent registries now operating. Benin’s registry has surged nearly 50,000% this year, while Gambia’s grew 574%, both linked to shadow fleet movements of sanctioned oil. Meanwhile, the Comoros and Gabon registries are shrinking following Western sanctions on their UAE-based operator. Liberia has widened its lead as the top flag state, and Singapore is set to overtake Hong Kong as companies like Pacific Basin and Seaspan reflag to avoid new US port fees.
