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Finnish police say the demanded ransom for the release of the cargo ship Arctic Sea is almost $ 1,5 million . The Arctic Sea – has sailed under five different flags and as many different names since it was built in Turkey 18 years ago.
Flags of Convenience: The largest shipping registries are Panama, Liberia, Greece, Marshall Islands and the Bahamas, Approximately 6,300 sail under the Panamanian flag, making Panama the largest. The Greek-controlled fleet is at almost 90 million gross tons. The Marshall Islands is fourth with 1, 500 vessels and 37 million tons. Bahamas has 1,500 vessels at 27 million tons. Other significant flags include Cyprus and Malta
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