Dozens of floating armouries — ships packed with machine-guns, ammunition and other military equipment — are operating in international waters off the coast of East Africa and the Gulf of Aden with a “worrying lack” of regulation according to a new report.

The report Floating Armouries: Implications and risks, by the UK-based Omega Research Foundation, says the vessels could pose a threat to “regional peace and stability.” This is because of “a serious lack of regulation and oversight” in the operation and use of these floating armouries, which are increasingly being used by private maritime security companies to store and transfer weapons.

The armouries were set up to supply private security guards employed to protect shipping from pirates, particularly off the East African coast. The report — commissioned by the Remote Control Project, a body that raises awareness of new military trends — said there was an “urgent need” for an international agreement to set minimum standards for the vessels.

While attacks on merchant shipping off the East African and Somali coast have declined in the past two years — partially because of the presence of an international naval force in the area — there is concern that weapons stored on floating armouries could end up being used for purposes for which they were not originally intended.

The report said that 12 of the vessels it investigated were registered to “blacklisted states” such as Mongolia, which “are known to have worryingly low regulatory standards on seagoing vessels.”

It said there should be frequent safety checks, and companies should not be allowed to use flags of convenience issued by nations that have been internationally blacklisted for low maritime standards. The report also found that there is no centrally managed, publicaly available register of floating armouries.

Other concerns centred on the lack of information on the number of weapons and quantity of ammunition stored on the floating armouries.

The report points out that there is currently no international body that evaluates the construction of floating armouries, raising concern over the security, storage and disposal of weapons.

Andrew Smith, a spokesman for the UK-based organisation Campaign Against Arms Trade, said: “The lack of regulation and transparency is particularly concerning. Putting more weapons into unstable environments can bring unforeseen and deadly consequences.”

Omega Research Foundation concludes by saying that co-ordinated international action is required to address the worrying lack of regulation. Caroline Donnellan, manager of the Remote Control project, said,

“The report highlights the need for urgent action to address the overall operations of floating armouries.”