The new report, "Lowering the Flag," explains how pirate vessels are using "flags of convenience" to hide their operations, steal from poor nations and cause environmental damage.

It calls for urgent action towards a global ban on the use of flags of convenience by fishing vessels.

The study will be published Thursday in London for the Fifth Annual Forum on Illegal, Unreported and Unregulated (IUU) Fishing at Chatham House, by the Environmental Justice Foundation (EJF) and partners.

It exposes a major loophole in international law that is being exploited by illegal "pirate" fishing operations.

IUU,