The faction needed to purchase this cloak is from the Far Seas Supply Division (Faction), rather than the Far Seas Trading Company. Because the special currency that's needed to buy some items in the Isle of Mara is called Far Seas Trading Company Token, these two factions are easily confused.
To check your faction, press C to open the Character window, click on the Factions Tab and set the drop down to Shattered Lands.
EQ2i credits this article at Census for the info in this article. the last update on Census for this item was: Tue, 18 Jul 2017 14:50:38 +0000