Biggest Problems Facing the Maritime and Shipping Industry Free Essay Example, 2250 words

It is really quite essential to state that the conference systems are considered as a tool or instrument that helps to stabilize inherently unstable rates in the maritime shipping industry, particularly when there are considerable deviations in market demand and supply of vessel capacity (Ebora 2014). Thus, by stabilizing rates, maritime exporters are provided with protection from unpredictable shifts in price and are assured of regular provision of shipping services. It enables maritime companies to compete, not on basis of the price charged, but on the level of service provision (Sodik, 2009). States have adopted varied provisions of law relating to safety passed in international conventions. For instance, the SOLAS Convention, adopted in 1914, relates to global treaties concerning the safety of merchant vessels (Vorbach, 2001). Mainly, the SOLAS convention helped to specify acceptable standards for the construction, operation and observance of the set safety standards (Luoma, 200 9). In this case, Flag States are accountable for making sure that vessels under their flag adhere to its requirements. The other convention on safety of vessels is the International Convention for the Prevention of Pollution from Ships (MARPOL), adopted in 1973.We will write a custom essay sample on Biggest Problems Facing the Maritime and Shipping Industry or any topic specifically for you Only $17.96 $11.86/page Thus, the Convention aimed at prescribing minimum standards relating to not only to certification but also to training for seafarers which states are obliged to satisfy.