Be Prepared For Maritime Incidents

By Christopher Nolan and Blythe Daly (August 9, 2017, 12:20 PM EDT) -- Despite the alleged softening of the maritime industry since 2008-09, the volume of waterborne trade continues to rise. The ebbs and flows of the industry mean changing partnerships and alliances, more complicated logistics chains, increased customer demands and added competition to retain market shares in the face of decreasing profit margins.

When companies are focused on their bottom lines, a patchwork of understandings, partnerships and daily practices between maritime shipping interests can emerge. The ambiguities in corporate relationships and weaknesses in internal practices may go unnoticed during daily commercial transactions. But when disaster strikes, it is too late to discern the...

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