IMO Passes Major Reform of Ship Registration Process
The International Maritime Organization (IMO) has moved to seal a regulatory gap that has enabled the rise of false flagging in the shipping industry, enacting new guidelines that will determine how ships are registered. In recent years, the shipping industry has witnessed a significant surge in the number of ships flying a false flag, with Russia’s shadow fleet tankers being the main culprits. The shadow fleet employs many regulatory loopholes in order to circumvent sanctions on Russian crude oil, and...
Continue Reading...
Loading More news