Shipowners find themselves facing another regulatory deadline. By July next year, shipping companies, vessels and ports, will have to be in compliance with the requirements of the new ISPS (International Ship and Port Facilities Security) Code. Given the problems the industry had in meeting the deadlines for the ISM (International Safety Management) code, there's surprisingly little tearing out of hair and gnawing of nails going on. This is all the more surprising given that many of the finer points of what will be required have yet to be ironed out. According to an ABS analysis it is estimated that almost 43,000 ships and mobile offshore drilling units will need to comply with the new requirements by July 1, 2004.
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