EU-owned vessels using flags of convenience and tax havens can undermine fight against illegal fishing, new Oceana analysis warns
Press Release Date: January 20, 2026
Location: Madrid
Contact:
Irene Campmany | email: icampmany@oceana.org | tel.: +34 682 622 245
The organisation urges the EU to track European owners of fishing vessels flagged to high-risk countries
Spanish, Portuguese, and Lithuanian operators account for the highest numbers of EU owners operating under high-risk flags
Oceana warns in its new analysis that at least 105 large scale fishing vessels owned by EU citizens or companies are operating under flags of convenience, tax havens, or countries facing EU warnings for failing to tackle illegal fishing. The findings reveal a major enforcement loophole that allows European citizens to circumvent EU rules, evade scrutiny, and potentially profit from illegal fishing. These arrangements can also allow economic profits from potentially illegal fishing to flow back to the EU, despite its stated zero-tolerance policy against this practice.
EU citizens frequently use opaque ownership structures, including shell companies in lax jurisdictions, to mask their identity as beneficial owners of fishing operations and distance themselves from activities that are not compliant with EU law.
“The EU must ensure that its own nationals are not involved in potential illegal fishing, under any country’s flag. Knowing who owns and profits from fishing vessels is key to enforcing the EU’s zero-tolerance policy towards illegal fishing and to protecting coastal communities worldwide, EU consumers, as well as the European market”, says Illegal Fishing and Transparency campaign director at Oceana in Europe, Vanya Vulperhorst.
The analysed vessels are flagged to 20 high-risk jurisdictions and owned by Europeans in several Member States, with Spain, Portugal, and Lithuania accounting for the highest numbers of EU owners operating under high-risk flags. Notably, 33 of these vessels, flagged in countries such as Panama, Belize, Senegal, and Ecuador, are authorised to export their catch directly to the EU, allowing high-risk seafood to enter the market. This overlap suggests the potential involvement of EU owners operating from jurisdictions with weak fisheries controls, inadequate labour protections, or permissive tax regimes, thereby increasing the risk of illegal fishing products entering EU supply chains.
Because Member States do not require their citizens or companies to register their beneficial ownership interests in foreign-flagged vessels with authorities, links remain invisible – hindering enforcement and allowing profits from potentially illegal activities to flow back to Europe undetected.
Oceana, therefore, urges EU Member States to:
- Require EU citizens and companies to report any legal, beneficial, or financial interests in fishing vessels flagged to non‑EU countries, to ensure proper implementation of the prohibition on supporting illegal fishing and on owning fishing vessels flagged to countries subject to an EU seafood trade ban (also called a ‘red card’).
- Strengthen monitoring and enforcement mechanisms and investigate ownership links between EU nationals and foreign-flagged vessels, prioritising those operating under flags of convenience or associated with illegal fishing risks.
Ahead of the upcoming Our Ocean conference in June and the one-year anniversary of the Ocean Pact, where the EU pledged to tackle flags of convenience and ensure beneficial ownership transparency, Oceana urges Member States to adopt this requirement to prevent EU citizens and companies from profiting from activities potentially linked to illegal fishing.
Notes to editors:
- Flags of convenience allow fishing vessel owners to register in countries with lax rules, low or zero tax rates for non-resident investors, and weak labour and fisheries oversight, often enabling the creation of shell and front companies that hide the true beneficial owners.
- Methodology: To develop this report, Oceana used Lloyd’s List Intelligence’s Seasearcher database, Global Fishing Watch, the European Commission’s Traces NT database, EUMOFA (2024) trade statistics, and 2022-2023 sobiennial reports from Member States under the EU IUU Fishing Regulation.
- In May 2025, a study led by EqualSea Lab and commissioned by Oceana, found at least 344 EU-owned vessels flagged to 43 non-EU countries that fished outside European waters.
- About the Our Ocean Conference. The conference is a crucial moment for the ocean community year after year, bringing together governments, NGOs, the private sector and academia to identify action-based solutions and make tangible commitments to protect the ocean. This year it is being held in Mombasa, Kenya (16-18 June).
- More about the EU Ocean Pact.
