Oceana exposes complex ownership structures behind illegal fishing and demands transparency at Our Ocean
Press Release Date: June 17, 2026
Location: Mombasa
Contact:
Irene Campmany | email: icampmany@oceana.org | tel.: +34 682 622 245
The organisation urges governments to collect and make public beneficial ownership information for all fishing vessels
Shell companies, opaque financial tools and flags of convenience are some of the strategies used to conceal the identity of fishing vessel owners
In a new analysis, Oceana exposes the complexity of hidden ownership structures behind fishing vessels. The results reveal how individuals behind illegal fishing operations deliberately conceal their identities through complex corporate structures and weak regulatory oversight. The organisation presented the conclusions at the Our Ocean Conference that is taking place in Mombasa, Kenya, 16-18 June.
Oceana calls on governments to urgently strengthen transparency around the beneficial ownership of fishing vessels to tackle illegal fishing. Beneficial ownership refers to the individuals that ultimately own, control and financially profit from fishing vessels’ operations, even if their names do not appear on official ownership documents.
“Stopping illegal fishing starts with knowing who is really behind it: who owns, controls and profits from fishing vessels. Without transparency, those responsible can continue to operate with impunity, profiting from environmental harm while undercutting law‑abiding fishers and undermining sustainable fisheries management. What we need now is clear: collection of ownership information, stronger political will, better coordination across institutions, and consistent action to embed transparency at the heart of fisheries governance” says Oceana in Europe’s, Executive Director and Vicepresident, Vera Coelho.
According to Oceana’s results, some of the tactics that beneficial owners use to mask their identity include:
- Shell companies and layered ownership, often spread across multiple countries, to obscure control and profits
- Frequent renaming and flag switching to evade tracking and enforcement
- Flags of convenience, which allow vessel owners to operate under jurisdictions with lax rules and weak oversight
- Opaque financial tools, bearer shares and joint ventures, that make it nearly impossible to identify the real owners
These practices create a system in which those orchestrating illegal fishing can remain hidden, while corporate complexity results in enforcement efforts focusing mostly on vessel crews and captains, rather than on the individuals profiting from illicit activities.
llegal fishing is one of the greatest threats to marine ecosystems and coastal communities worldwide. It not only depletes fish stocks and damages ocean health, but is also linked to broader criminal activities, including tax fraud, money laundering, human trafficking and smuggling.
“Fishing is vital to food security, livelihoods, and economic stability for millions of people worldwide. However, illegal and opaque fishing undermines these benefits and disproportionately affects coastal communities, particularly in West Africa. Collection and publication of beneficial ownership information would help prevent foreign interests from monopolising access to fishing grounds, overexploitation by foreign owned seafood factories, processors, and exporters, fish meal and fish oil fisheries and producers,, and reduce the risk that offenders circumvent the rules through reflagging, or, renaming tactics, or shell companies” says Dr. Christina Chemtai Hicks, a Kenyan British Professor at Lancaster University, Pew Marine Fellow, and Oceana Board Member.
Therefore, Oceana is calling on governments to take urgent steps to close transparency gaps, including:
- Requiring collection of beneficial ownership information for all fishing vessels, including those that are foreign-flagged
- Making ownership data public and accessible to all relevant authorities
- Strengthening cross-border cooperation and information sharing
- Publishing and maintaining public lists of authorised vessels fishing under a country’s flag or operating in their waters.
