MARITIME EXECUTIVE

PUBLISHED NOV 21, 2022 1:14 PM BY ERIK KRAVETS

 
 

(Article originally published in Sept/Oct 2022 edition.)

Shipping is special – and not just in terms of its economic impact, colorful traditions or ability to span continents and bring together buyers and sellers that lie oceans apart – but also because, for much of its existence, the heavy hand of government regulation has largely left shipping untouched. 

This laissez-faire approach is reflected, for example, in classification societies, which are private organizations whose customers are shipowners and which have the authority to determine if a given ship is insurable or operable. It would be as if landlords had their own entity to certify that their rental units are up to code and habitable. Or take protection and

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