Norway Warns Global Shipping of Fake Marine Insurer
Norwegian authorities are alerting the international shipping industry about another fraudulent maritime insurer operating under the radar.
According to an investigation by NRK, Norway’s public broadcaster, a company called RO Marine has been issuing counterfeit insurance documents, allegedly helping ships within the so-called shadow fleet continue operations undetected.
The company claims on its website that it insures over 250 vessels and lists its office address as being in the same Oslo building as the Norwegian Shipowners’ Association—adding to its false legitimacy.
Four individuals—a Russian national, a Bulgarian, and two Norwegians—are facing charges related to document forgery and operating an unauthorized insurance business.
The rise of fake insurers, along with unrecognized flags and classification societies, has mirrored the expansion of the shadow fleet over the past few years. Just last month, Sirius Mutual Protection & Indemnity Association received a cease-and-desist order from the insurance commissioner in Mississippi for similar fraudulent practices.
Currently, 86% of the global merchant fleet is insured through the 12 Protection and Indemnity (P&I) clubs that make up the International Group. That number has dropped from 95% since Russia’s full-scale invasion of Ukraine in 2022.
There has also been a decline in vessels classified by members of the International Association of Classification Societies (IACS), falling from 94% to 92% of the global fleet over the past three years.
According to new data from analytics firm Kpler, more than 5,000 ships—or roughly 14.5% of the world’s merchant fleet—are now registered under flags with less than 10% ratification of key International Maritime Organization (IMO) and International Labour Organization (ILO) conventions. This significantly raises the risk of regulatory action.
“Flag risks are increasingly shaping maritime due diligence, impacting regulatory scrutiny, financial exposure, and operational integrity. The strategic use of high-risk flags in evasive practices, such as flag-hopping and shadow fleet operations, underscores the complexities of compliance in global shipping,” wrote Dimitris Ampatzidis, a risk and compliance analyst at Kpler, in a recent report.
Kpler’s analysis also found that the number of sanctioned vessels has doubled since early 2023, with over 600 of them now sailing under high-risk flags—adding to growing concerns over global maritime enforcement and transparency.