There are fear of another explosion happening in a port somewhere,
ICHCA has done a survey of ports around the world with discouraging result:
That article really illustrates the benefits of FoC registries to the low life owners of the world. I particularly like the passing comment that the vessel’s class society was owned by the vessel owner.
Conflict of interest? No, just another facet of a totally corrupt system of vessel ownership and registration.
A deeper look at the root cause:
It is not limited to Beirut, Lebanon, or even the abandonment of a ship.