ICS Chairman calls for economic sustainability
Measures to reduce shippings impact on the environment need to be economically sustainable Stringent measures to reduce shippings impact on the environment need to also be economically sustainable, warns the Chairman of the International Chamber of Shipping (ICS). Speaking at this weeks Connecticut Maritime Association event in USA, Mr Masamichi Morooka told delegates: In a truly difficult economic climate like the present, which for many shipping companies is the worst in living memory, there is really only one issue on the minds of ship operators working on the waterfront and that question is: how are we going to survive?The protection of the environment is of great importance, but we must balance the measures we take with the economic impact of these measures. At present shipping finance has virtually dried up. This is not just for new ships but also for the investments needed to continue operating existing ships in a safe and environmentally sustainable manner, he pointed out.Speaking during a key debate on The Regulatory Environment, Mr Morooka questioned: If a shipping company is already sinking in debt, how is it going to pay for the retrofitting of expensive new ballast water treatment systems that will be required in the ...
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