Impacts of IMO and BIMCO on shipping business

Shipping is such a business that it cannot remain aloof from the various impacts that the national and the international shipping organizations lay with the help of their regimes and the specific regulations at tremendous speed to foster the trade in the international market. Shipping is mainly a cyclic business that keeps facing certain fluctuations in the economic markets. To maintain the basic stability of the business in the market, these international organizations have played significant roles that are immensely contributory in terms of the business in the shipping territory.

There are several organizations like the IMO and the BIMCO along with others which are considered to be the life line of the shipping domain. These international organizations also foster the growth of the economy of the country in the near future. They regulations and the rules that these organizations have set up for the shipping industry are very stringent and they serve as the guiding factors to increase the productivity and the efficiency of the industry with the help of these rules.

The IMO and the BIMCO are integral elements for the development of the shipping industry. They streamline the flow of the imports and the exports that can lead to the growth of the dynamics of the business of shipping. In fact these organizations can be considered as the catalytic game changers in terms of their utility in the shipping territory.

Some of the facts related to the IMO and the BIMCO in brief are as follows:

The IMO stands for the international maritime organization and it was established in 1948. It is headquartered in London, UK. Their main aim of to develop some national treaties and contracts to prevent the marine pollution and create a safe passage for shipping. They also have a huge technical cooperation program that concentrates on the improvement of the developing countries so that they can help themselves to grow. It also concentrates on the development of the human resources with the help of the maritime training and other similar activities.

The BIMCO stands for Baltic and international maritime council. It was established in 1905 and is located in Bagsvaerd, Denmark. They aim at developing free trade, make access to the markets, facilitation of the trades, and also look after the promotion of the quality and the security. They also promote the standard documents along with other activities related to shipping.

Nishanpitterson - About Author:
Nishan Pitterson is a marine engineer has vast knowledge on IMO and BIMCO. For more information on them he suggests to visit http://www.thiiink.com/ .

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