Shipping keeping cool in turbulent times

LAST week, I wrote about the danger of terrorist and piracy attacks on shipping. It is an unsettling scourge for the maritime industry.

At this time, however, the fundamentals which have underpinned several decades of growth in international trade are also coming under threat. A month or so ago, a delegation from the International Chamber of Shipping (ICS), the Asian Shipowners' Association (ASA) and the European Community Shipowners' Associations (ECSA) expressed concern over the recent rise in protectionist measures at the World Trade Organization (WTO) in Geneva.

Two position papers from the shipping sector that were presented stressed that there must be "a full commitment to the preservation and promotion of free-trade policies and principles around the world."