Background

Around 90% of global trade is transported by sea. Shipping is crucial for global trade. It also delivers a range of indispensable services especially in the offshore sector.

International conventions govern maritime transport, including safety and security, environment protection, liability and compensation as well as standards of training and watch keeping. Their effective application depends on swift and broad ratification and uniform implementation by states.

The lack of ratifications creates uncertainty in the application of a global regulatory framework for shipping and a risk of unilateral regulations.

BIMCO’s position

• BIMCO strongly supports internationally agreed standards and regulations to retain a level playing field.
• BIMCO encourages swift ratification of conventions by states.
• The shipping industry needs international regulation because it operates globally and reaches across borders or regions. BIMCO strongly supports the efforts of the International Maritime Organisations (IMO) to harmonise international regulations forming the bedrock of international shipping.
• The regulatory framework for shipping has to be transparent, proportional, internationally agreed and non-discriminatory. It should be broadly and uniformly implemented by flag and coastal states with fair and realistic notice periods to ensure a level playing field for all engaged in transportation by sea.
• Regulations must be workable and realistic. To achieve this, it is crucial to have proper impact assessments to also determine if technology is available before measures are adopted.
• BIMCO opposes national and regional initiatives that create inconsistency and uncertainty in the application of international rules.