Tanker safety: Regulatory change

Horn, Gary; Marshall, Graham R.; Rynn, Philip G.; Stanton, Mark E.

doi:10.1007/bf03195138

Cited by 4 publications

(1 citation statement)

References 2 publications

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“…However, the biggest cargo type transported in the world, and by oil tankers, is fossil fuel at 26% of total volume of world seaborne trade. Researchers have argued that the maritime industry is overregulated, and is even one of the most heavily regulated industries (as discussed in Karahalios, 2015;Alderton & Leggate, 2005;Alizadeh, et al, 2015;Horn, et al, 2008). Although, many people agree that the IMO should increase safety standards at the sea, the costs for private stake holders that are generated by changes in regulations are also significant.…”

Section: Introductionmentioning

confidence: 99%

Dynamic Response of Risk Management Model to Mitigate Impact of Maritime Regulatory Changes: Oil Tanker Owners Perspective

Setyohadi

Artana

Manfaat

et al. 2018

OSCM: An Int. Journal

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The contemporary shipping industry is a high-risk business activity that is highly regulated by the International Maritime Organization (IMO). Changes in IMO regulations are often triggered by major incidents that bring safety at sea into public view. They may address ship instruments, operation, cargo, crew, environment, security and safety, and can generate higher Capital Expenses (CAPEX) and Operational Expenses (OPEX) for shipping businesses. Oil tanker owners are key stakeholders in the shipping industry and are most exposed to the risk of higher on-cost expenses both for CAPEX and OPEX. Between 2006 and 2019, regulations regarding oil tankers were changed six to seven times per year. This paper assesses the financial impact of changes in major international maritime regulations, primarily, the International Convention of Safety of Life at Sea (SOLAS), MARPOL, and STCW. The methodology involves using a risk matrix from a specific company and combining it with system dynamics to forecast the dynamic effect of such changes on the oil tanker market. The result shows that changes in regulations can have a catastrophic impact on the sustainability of the oil tanker business.

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Section: Introductionmentioning

confidence: 99%

Dynamic Response of Risk Management Model to Mitigate Impact of Maritime Regulatory Changes: Oil Tanker Owners Perspective

Setyohadi

Artana

Manfaat

et al. 2018

OSCM: An Int. Journal

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Environmental hazards associated with open-beach breaking of end-of-life ships: a review

Barua

Rahman

Hossain

et al. 2018

Environ Sci Pollut Res

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End-of-life (EOL) ships contribute significantly to the flow of recycled industrial Fe and non-Fe metal materials in resource-poor developing countries. The ship scrapping (breaking) and recycling industry (SBRI) recycles 90-95% of the total weight of EOL ships and is currently concentrated in Bangladesh, India, Pakistan, Turkey, and China, due to the high demand for recyclable and reusable materials there, an abundance of low-cost labor, and lenient environmental regulations. However, the SBRI has long been criticized for non-compliance with standards relating to occupational health, labor safety, and to the management of hazardous materials. Among the different EOL recycling options, Bangladesh, India, and Pakistan use open beaching, a technique that exposes all spheres of the environment to the release of hazardous materials from EOL ships. This article summarizes the current state of knowledge on the environmental exposure of hazardous materials from SBRI, to judge the risks associated with the dismantling of EOL ships on open beaches. Our work includes an overview of the industry and its recent growth, compares available ship-breaking methods, provides an inventory of hazardous releases from EOL ships, and reviews their movement into different spheres of the environment. The economic dynamics behind open beaching, and apportionment of responsibility for hazards related to it, are discussed, in order to generate policy and legal recommendations to mitigate the environmental harm stemming from this industry.

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IMO legislation and its implementation: Accident risk, vessel deficiencies and national administrative practices

Knudsen

Haßler

2011

Marine Policy

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Tanker safety: Regulatory change

Cited by 4 publications

References 2 publications

Dynamic Response of Risk Management Model to Mitigate Impact of Maritime Regulatory Changes: Oil Tanker Owners Perspective

Dynamic Response of Risk Management Model to Mitigate Impact of Maritime Regulatory Changes: Oil Tanker Owners Perspective

Environmental hazards associated with open-beach breaking of end-of-life ships: a review

IMO legislation and its implementation: Accident risk, vessel deficiencies and national administrative practices

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