Maritime report: The State of Ship Finance Q1 2023
Nearly all world industries rely heavily on maritime shipping. Former Secretary-General of the United Nations Ban Ki‑moon once quipped, “Maritime transport is the backbone of global trade and the global economy.” Maritime shipping is also considered one of the safest and most environmentally-friendly modes of goods transportation.
Due to the vastness of the oceans, safety has always been foundational to the shipping industry. The shipping industry was one of the first industries to implement comprehensive international safety standards set forth by the International Maritime Organization (IMO). This maritime safety guide condenses the many rules and regulations ensuring safety across marine waterways.
Maritime safety is the collection of measures to protect life and property at sea. Specifically, the guidelines come from the International Convention for the Safety of Life at Sea (SOLAS).