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Controlling Maritime Security Cost

It is expected that the USCG will begin stepping up compliance measures and holding companies more accountable to the codes and regulations of the Maritime Security Act of 2002 (MTSA). The anticipated actions by the USCG, combined with the current cost of normal security procedures, will make it increasingly more difficult for companies to balance compliance with manageable security budgets. In addition, companies that lack the knowledge and experience to maintain full compliance run the risk of compounding the cost burden with regulatory financial penalties. Complicating matters even further, affected U.S. companies must now also comply with the Safety and Security of Every Port Act (Safe Port) and the Transportation Workers Identification Credential (TWIC).