Page 16: of Maritime Logistics Professional Magazine (Q4 2012)

2015, followed by a further 20% by 2020, and another 30% by 2025, environmental management and risk management become an integral part of ?management? itself. Safer ships, environmental awareness and concern for cleaner seas are probably not being taught, even in more general terms, at the Harvard Business School. They are often ignored at con- ferences on ship  nance, even as the traditional lenders to the shipping industry hang out the ?going out of business? sign, all over the world. But in the course of widespread economic misery for the maritime industry, those who are not, in Thomas Paine?s memorable words, ?Summer patriots and sunshine sol- diers,? with a lasting commitment to shipping, are aware that sound and economical management goes hand in hand with competent and effective stewardship of the seas around us. ??Clay Maitland is the Founding Chairman of NAMEPA, a maritime industry-led initiative which engages maritime businesses, government and the public to ?Save our Seas? by promoting sound environmental practices. www.namepa.net ? What is different is the fact that the industry is faced with a phenomenal recession, stretching from shipbuilding to operations, shipbuilding overcapacity, declining rates, and the evaporation of pro ts. Simply stated, it may not be possible to maintain vessel quality in an era of  nancial loss. There is a growing concern that the ?substandard ship? may be making a comeback. Insights16 I Maritime Professional I 4Q 2012MP #4 1-17.indd 16MP #4 1-17.indd 1611/12/2012 12:01:20 PM11/12/2012 12:01:20 PM