Environmental Policy Changes and Their Effect on Ship Owning

New legislation has had a major influence on the cost of building and operating vessels, leading to a tremendous increase in capital investment, as well as employment resources far beyond what our forefathers would have ever considered for normal ship operation. Most requirements today are a direct result of either a major shipping incident, where political fallout resulted in the implementation of new legislation, or the acquisition of new and improved technology focusing on the Global Environmental impact arising from global transportation needs. With intense public pressure on government forcing ship owners to be more environmentally friendly and transparent, leading to stricter regulation through IMO or individual state initiatives, this sharp increase in new legislation imposed over decades has become a serious financial consideration and obligation on the ship owning community, and will continue to be felt for the foreseeable future.

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