Risk management in the shipping industry
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Keywords
Safety Management System (SMS) ; Shipping ; Risk assessment ; LegislationAbstract
The present paper aims to present basic and widely accepted
methods of risk-assessment. Using papers from industry’s professionals
along with pure academic sources, it gets clear that methods used, both
qualitative and quantitative, do not require scientific back-round to be
followed. Taking into account the international regulatory basis and the
market’s reality, the industry has adopted the prerequisite standards.
Those standards need to be monitored and implemented. To this purpose,
internal audit is the tool for constant reviewing and improvement of the
safety procedures. The establishment of a safety culture includes the
potential incidents’ investigation and the root cause analysis as well. It
would be useless to monitor the safety matters without being willing to
review and document the changes. However, while times passes, new
challenges towards risk-assessment are arising. In that respect, the
existing practices must adjust to the new conditions always according to
the company’s Safety Management System (SMS).