- 6 -
COUNTRIES BUT THE PROCESS IS SLOW BECAUSE OF MANPOWER
SHORTAGE · TOO SLOW TO COMFORT A SHIPOWNER WHO HAS TO
-
OPERATE IN A HIGHLY COMPETITIVE ENVIRONMENT. ON THE
OTHER HAND, THE MOVE TO A FLAG-OF-NECESSITY COUNTRY
CLEARLY DOES NOT AUTOMATICALLY MEAN A LOWERING OF
STANDARDS OF QUALITY, RELIABILITY, AND SAFETY FOR VESSELS
AND THEIR CREWS. NO RESPONSIBLE OWNER IN HIS RIGHT MIND
WOULD WANT HIS SHIPS TO BE EQUIPPED WITH SUBSTANDARD OR
UNTRUSTWORTHY INSTALLATIONS (THE CLASSIFICATION SOCIETIES
WOULD LIKELY NOT LET HIM GET AWAY WITH IT IN ANY EVENT),
BECAUSE ANY SMALL SAVINGS ACHIEVABLE BY DOING SO COULD
LIKELY BE EASILY AND SWIFTLY WIPED OUT BY A CASUALTY, AND
A SUBSEQUENT RISE IN THE OWNER'S INSURANCE COSTS. THE SAME
OF COURSE APPLIES TO THE QUALIFICATIONS OF OFFICERS AND
CREWS, AND IN OUR INDUSTRY THE COMMERCIAL REALITY OF THE
RISK OF FINANCIAL LOSS FREQUENTLY SUPPLANTS OR SUBSTITUTES
ABSENT OR SLACK LEGAL RULES. I CERTAINLY MAKE SURE PERSONALLY
THAT OUR SHIPS, UNDER WHATEVER FLAG THEY ARE REGISTERED,
HAVE THE BEST EQUIPMENT INSTALLED THAT IS AVAILABLE ON THE
MARKET AND ARE MANNED BY PEOPLE WHO KNOW THEIR JOBS, TO
ENSURE EFFICIENCY, EÁSE, AND MAXIMUM OBTAINABLE RELIABILITY
IN OPERATION. AFTER ALL, WE WANT TO SATISFY OUR CHARTERERS
WHO ARE ONLY AND PRIMARILY INTERESTED IN GETTING THEIR CARGOES
MOVED FROM ONE PORT TO ANOTHER ON TIME.
IT IS ALSO OFTEN SAID THAT SHIPOWNERS REGISTER UNDER
OTHER THAN TRADITIONAL MARITIME FLAGS BECAUSE THIS ALLOWS
THEM TO GET AWAY WITH LOWER WAGES AND LESS ATTRACTIVE
EMPLOYMENT CONDITIONS FOR CREWS. HERE AGAIN, I MUST SAY
THAT SHIP CREWS ARE A FACTOR IN AN INTERNATIONAL MARKET
AND THEIR WAGES AND CONDITIONS ARE A RESULT OF THE SUPPLY
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