Empirical analysis on the effectiveness of the legislative framework in the maritime industry

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Abstract

We analyze the effectiveness of the legislative framework of the maritime industry developed by the International Maritime Organization (IMO), the International Labor Organization (ILO) and regional regulators such as the EU or the US and industry activities (inspections). With a unique combination of 310 time series using data of 44 years (1977 to 2020), we use 41 econometric models to highlight the effect of 116 main legislative milestones and their variants. We consider multiple endpoints of interest such as safety, piracy and crime, oil and chemical pollution, biosecurity, and air emissions.
The results demonstrate that qualities of the fleet have improved. The time between adoption and entry into force for the events used here lies at 3.83 years on average while negative effects are equally important for the time between adoption and entry into force as compliance often is obtained prior to entry into force of a requirement. Safety related milestones lead with measured negative effects followed by pollution. Good results are found for the fishing fleet albeit only part of the legislative framework related to training and certification (STCW-F) is in force. Regional measures show stronger negative effects due to increased enforcement powers. Many of the individual milestones of interest show that the desired effect of reducing incidents or decreasing pollution can be measured including important milestones such as the IMO International Safety Management Code (ISM), the Instruments Implementation Code (III Code), the Recognized Organization Code (RO), several SOLAS specific codes dealing with stability, fire testing and construction, the IMO Member States Audit Scheme (IMSAS), MARPOL Annex I, II and VI. Although human related areas improved compared to a previous study, there is still room for improvement. Future areas of interest are ship recycling, anti-fouling, sewage, and garbage as well as the London Convention.
Original languageEnglish
PublisherEconometric Institute, EUR
Publication statusPublished - May 2022

Publication series

SeriesEconometric Institute Report Series
NumberEI 2022-06

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