International Maritime Organization may fade in importance by 2050, DNV GL forecasts according to the materials provided to IAA PortNews. The forecast says that regional unions will play more and more significant role in shipping regulation, as it is in EU and in North America today.
If IMO is not able to play a leading role and meet expectations of its members, it risks to fade by 2050, the forecast says.
The International Maritime Organization (IMO), known as the Inter-Governmental Maritime Consultative Organization (IMCO) until 1982, was established in Geneva in 1948 and came into force ten years later, meeting for the first time in 1959.
Headquartered in London, United Kingdom, the IMO is a specialized agency of the United Nations. The IMO’s primary purpose is to develop and maintain a comprehensive regulatory framework for shipping and its remit today includes safety, environmental concerns, legal matters, technical co-operation, maritime security and the efficiency of shipping. IMO is governed by an Assembly of members and is financially administered by a Council of members elected from the Assembly.