International Maritime Transport Sector Regulation Systems and their Impact on World Shipping and Global Trade

• Main Author: Andrzej Grzelakowski
• Format: Article
• Language: English
• Published: Gdynia Maritime University 2013-09-01
• Series: TransNav: International Journal on Marine Navigation and Safety of Sea Transportation
• Subjects: Economic Matters; International Maritime Transport; World Shipping; Global Trade; International Shipping Industry; Global Maritime Transport; Global Logistics System; Freight Market
• Online Access: http://www.transnav.eu/files/International Maritime Transport Sector Regulation Systems and their Impact on World Shipping and Global Trade,453.pdf

The main purpose of the paper is to analyze the impact of two nowadays existing global regulatory systems of the world maritime transport sector on international shipping industry and global trade development. The author has focused on the characterization of the autonomous regulatory system represented in this sector by freight market with typical for it mechanism as well as on public regulatory system expressed in form of the existing international regulatory scheme introduced by IMO and other international organizations. Both regulatory mechanisms has been analyzed and viewed in terms of efficiency and effectiveness of their influence upon shipping industry and global commodity markets. At the end, the results of functioning of both regulatory subsystems have been assessed with the aim to indicate how they are able to create growth potential for the world maritime transport and trade sector as well as the global economy.