It further goes to notify the foundation of the shipping companies, along with the employees therein, must be educated and treated fairly and consistent with what’s expected from large companies.

Macro economically, BIMCO has said that due to the escalation of world trade and GDP, 2013 appears to become a year which could see a turn in fortunes of the shipping business. Though this may hearten some, the reality remains that ships ordered to cope with a surplus of tonnage that never materialized could affect this situation terribly and could lead to a worldwide downturn, the likes of which some companies will not be able recover from. BIMCO has stated the numbers should be considered as well as these negative aspects and could cause some bleak times for your business, to end this evaluation.

Ordinance is a talking point in “Reflections 2013” since BIMCO states that suitable global regulation could only enable the industry. Keeping regulation global would take the leverage out of local bodies and set it in the hands of people that have the whole business in mind as opposed to the good of the region above others. The justification that “hard times demand hard measures” must be rebuked once the argument is raised.

Green Delivery has been mentioned in BIMCO’s report, noting the tendency of the sector to improve and exhibit their efficiency in environmental terms. This is good news for businesses and leading shipbuilders investing in green technologies with the aim of lessening their carbon footprint. However, BIMCO has noted the timely execution of the IMO Water Ballast Convention is going to be a complex undertaking when faced with the undeniable fact that sufficient treatment systems could be unavailable.

BIMCO President Mr. Yudhishthir Khatau includes in his address attached to “Reflections 2013” that “the worst is behind us.” The business may be confident for the year coming, in spite of the problems of an excess of tonnage. If development proceeds, this could well be a turning-point within the business along with a brand new hope for shipping worldwide.