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Constantinos Tsakiris may have paid a total of $7.7 million in ransom for release of oil products tanker “Polar” dwt 72,825 hijacked en route from St. Petersburg and Kronshtadt to Singapore with a cargo of fuel oil.
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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