International shipowners said the maritime industry is being choked by legislation and that they are unfairly targeted as the culprits for all ills in the sector.
Addressing some 1,000 delegates from 35 countries who attended the bi-annual Maritime Cyprus Conference in the port town of Limassol, shipowners outlined
the problems the industry faces entering the new millennium.
There was a heated discussion on Flags of Convenience (FoC), under which approximately 50 percent of all global tonnage is registered. An ITF official announced to delegates that within the next two years national flag states would also be assessed for operating substandard vessels. Delegates argued that the ITF uses its power to declare FoCs as a means to create a hit-list of flag states which don't comply with national union demands.