The OECD Shipbuilding Agreement: What Does It Mean for the Shipping Industry?

by Tanya Rickard and Edward Olive, Constant and Constant, London

In December 1995, the European Union ratified the “Agreement Respecting Normal Competitive Conditions in the Commercial Shipbuilding and Repair Industry” brokered by the OECD (Organisation for Economic Co-operation and Development), the aims of which are to prevent unfair pricing and eliminate state aids in the world’s shipbuilding and repair industry.

The Agreement has now also been ratified by Finland, South Korea and Norway. Only Japan and the USA remain. Japan is expected to ratify by 15th June 1996, and the USA during the first quarter of the year, though there may be problems as this is an election year. Once ratified, the Agreement will cover approximately 80% of world shipbuilding.

This is only an excerpt of The OECD Shipbuilding Agreement: What Does It Mean for the Shipping Industry?

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.