Globalisation

Without maritime transport, global trade as we know it would not be possible. Continuously improving port services and shipping connectivity allow for globalised production and trade between all countries of the world. At the same time, shipping itself is being produced globally. A typical ship today is built, manned, operated, flagged, insured and recycled in different countries. This globalised business also calls for global and predictable regulations, to ensure a global level playing field. The long-term trend as regards accidents and fatalities has been positive, as the number of incidents has decreased while trade and traffic has gone up. As the maritime business gets ready for its next global transformation – the decarbonisation of shipping – the challenge for industry and policy makers is to ensure a predictable global regulatory environment to support this transition.