OECD Warns of Secrecy, Maritime Risks

Thursday, May 01, 2003
A recent wire report from Reuters commented that corporate secrecy, a prevalent business practice in the tight-lipped maritime industry, could enable extremists to launch a "maritime September 11" attack. OECD leaders indicated in the wire report that tougher rules on declaring ownership and a crackdown on the use of flags of convenience could help combat both rule-flouting shipownwers as well as potential terrorists. Ever since the September 11, 2001 terrorist attacks in the U.S., the maritime industry has had a much heightened awareness of the potential to use such high value targets as tankers or cruise ships to make a statement. OECD experts are to report in November on what measures states could take to boost security and openness. The May 2003 edition of leading industry publication Maritime Reporter & Engineering News offers an in-depth perspective from noted attorney Dennis L. Bryant of Holland & Knight, Washington, D.C., of new "openess" laws in the U.S., and their likely effect on the marine business. View the article by visiting www.marinelink.com.

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