Maritime security implications of the international shipping recession
The international shipping industry has experienced a marked downturn as a result of the global economic recession with surplus shipping capacity, crews being paid off, lower profits, and ship-owners seeking to cut costs. This paper addresses the maritime security implications of these developments. These include larger numbers of ships laid up in anchorages possibly prone to pirate attack, and the risk that ships might be less well maintained and operated. However, the most serious impacts are on seafarers who are experiencing reduced wages and conditions of service. The International Maritime Organization (IMO), industry associations and ship-owners are challenged to address these issues before safety and security are seriously affected with increased risks of accidents at sea and marine pollution.