1.Importance of Enforcement under the Current Market ConditionsThe Shipping industry in all its three major segments i.e.dry bulk carriers,tankers andcontainerships is undergoing one of its major historical downturns.In fact,we are on thefifth year of the downturn and although market participants always have the best intentionsto cooperate and find agreed and mutually beneficial solutions,in a large number of casesthey have also started to take a more pragmatic approach to the challenges the shippingindustry is now facing and in certain instances more radical measures are taken.
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