Yup. Huge difference between being a flagged vessel of, say, Panama, and complying with all rules of the sea, and being a flagged vessel of nowhere and claimin

Yup. Huge difference between being a flagged vessel of, say, Panama, and complying with all rules of the sea, and being a flagged vessel of nowhere and claiming you're not subject to any laws. And worth pointing out that even flagged vessels of other countries can (and often are) boarded and inspected by the USCG.