Three shipowner associations representing more than 90 percent of the global merchant fleet have agreed to strengthen ties in a bid to tackle geopolitical threats affecting the sector.
The International Chamber of Shipping (ICS), the Asian Shipowners’ Association (ASA) and the European Community Shipowners’ Associations (ECSA) have signed a joint memorandum of understanding (MoU), which provides a framework for closer cooperation between the associations.
“Shipping is a global industry requiring global rules. It is only natural that as the representatives of the world’s national shipowner associations that we should further cement our relationships to ensure that we work as effectively as possible in support of a global regulatory framework for shipping and in opposition to unwelcome regional or unilateral initiatives that may impede the efficiency of maritime trade” said ICS chairman, Esben Poulsson.
According to Bhumindr Harinsuit, ASA president, Asia is controlling an increasingly large proportion of this fleet. He added: “It is vital that the interests of Asian shipping… are properly represented at the global level, especially with the increasing importance of Asian economies to overall demand for shipping services.”