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Ocean regulation and deregulation - Research Paper Example

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The movements that exist today to economically reregulate transportation modes are such as the re-regulatory movement of Washington that imposes the need to impose discipline on the financial services of the transportation modes. The federal maritime commission also reregulates…
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Ocean regulation and deregulation
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The movements that exist today to economically reregulate transportation modes are such as the re-regulatory movement ofWashington that imposes the need to impose discipline on the financial services of the transportation modes. The federal maritime commission also reregulates the ocean transportation modes. The federal maritime commission sets up a regulatory apparatus that is new (David 27).
For a long time economists have pressed deregulation in the shipping industry after studies showed constant returns to scale and losses resulting from regulation. The aim of deregulation has always been to reduce the constraints that are imposed by the government on the ocean transport sector. Deregulation aims at creating conditions that are conducive to the success of the ocean transport system. During the process of deregulation, the Federal Maritime Commission was in struggle with the pressure of removing the anti-trust immunity that the ocean shipping conferences were enjoying. Although the ocean shipping reform act has maintained the anti-trust immunity (Dong-Hua 24).
The modes affected by the reregulation include leaves of the ocean workers, standards that will prevent oil spills in the oceans, and simplified processes that will settle transactions carried out in the ocean transport sector. The new regulations are seen as economically significant regulations since they promote benefits of the ocean transport (Dick 385).
It is important for current logisticians to understand that an efficient transport system that is economical is an essential system. Especially in the field of shipping and ports, the efficiency of the transport system is very important. Re regulation is likely to improve logistics and facilitate trade through ocean transport (Sagers 780).
Works Cited
David B. Vellenga. "The Ocean Shipping Reform Act Of 1998." Transportation Journal
(American Society of Transportation & Logistics Inc) 39.4 (2000): 27-34.
Dick, Howard. "The 2008 Shipping Law: Deregulation or Re-Regulation?" Bulletin of
Indonesian Economic Studies 44.3 (2008): 383-406.
Dong-Hua, Wang. "The Ocean Shipping Reform Act: The Trans-Atlantic Cares." Maritime
Policy & Management 33.1 (2006): 23-33.
Sagers, Chris. "The Demise of Regulation in Ocean Shipping: A Study in the Evolution of
Competition Policy and the Predictive Power of Microeconomics." Vanderbilt Journal of Transnational Law 39.3 (2006): 779-818. Read More
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