Joint memorandum of understanding signed n Singapore. Image Credit: ICS
There major shipping associations representing over 90% of the world merchant fleet have pledged to enhance their cooperation.
The International Chamber of Shipping (ICS), the Asian Shipowners' Association (ASA) and the European Community Shipowners' Associations (ECSA) signed a joint memorandum of understanding today in Singapore.
"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.
ASA President, Mr Bhumindr Harinsuit, said it "is vital that the interests of Asian shipping, which controls an increasingly large proportion of the world fleet, are properly represented at the global level."
A copy of the MOU can be viewed here: http://www.ics-shipping.org/docs/default-source/documents---link-access/mou-between-asa-ecsa-and-ics---final-agreed-text.pdf