Quite an interesting comparison and conclusions drawn from it.
Blockquote
ICS Secretary General, Guy Platten, says: “The Table clearly indicates that distinctions between ‘traditional’ flags and open registers are no longer meaningful. Alongside several European registers, and flags such as Japan, we have seen many open registers amongst the very top performers”.
https://www.ics-shipping.org/press-release/ics-launches-new-flag-state-table/