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Naturally, all of this impacts on shipowners’ costs and creates uncertainty –
albeit it also creates opportunities for those shipowners willing to take the
risk of Iranian trading.
Conclusion
Shipowners operate in an increasingly regulated world. Many of the regulations
I have mentioned have been motivated by a desire to ensure that shipowners
act as good citizens. Unfortunately, however, there is a perception that often
it is shipowners that are being required to do what is really the job of arms of
government: acting as the frontline in saving refugees in the Mediterranean
Sea being an example. Equally, a lack of clarity as to how regulations may
apply and the differences between the regulations of various countries, often
due to a lack of co-ordination or co-operation between governments, creates
uncertainty for both shipowners and insurers – unfortunately, this frequently
leads to more costs and more disputes.