The prospects of the Maritime Industry for 2023

There is a lot of change on the horizon when looking out on 2023 and beyond. Forthcoming regulatory changes are driving the industry to move beyond the theoretical to implement and test new solutions for energy, vessel optimization, and more. This year will be the year that owners and operators commit to new strategic solutions if they are to meet the compliance requirements of the future. Those solutions will require unparalleled cooperation, cross-industry support, and a level of partnership beyond what is seen today.

International Registries, Inc. and its affiliates (IRI), which provide administrative and technical support to the Republic of the Marshall Islands (RMI) Maritime and Corporate Registries, has invested in resources, technology, and team members to help RMI’s owners and operators make informed decisions on solutions and strategies for the future.

Strategic solutions, such as new technologies and vessel designs aim to reduce shipping’s environmental impact and address regulatory compliance in the future. Partnering with global solution development and research projects, the RMI Maritime Administrator is providing a flag State perspective to the review and assessment of new solutions, alternative energies, and innovative designs. This type of hands-on collaboration avoids regulatory surprises and allows the Registry’s technical team to develop hands-on knowledge and expertise in cutting-edge solutions and designs.

For RMI owners and operators, having high-quality technical experts with hands-on experience in these new solutions positioned around the world is a significant asset. On the regulatory side of the forthcoming changes, the RMI’s permanent delegation at the International Maritime Organization (IMO), offers operational and flag State perspectives on proposed regulations, implementation timelines and more, giving RMI owners a voice in the regulatory framework of the future.

Theofilos K. Xenakoudis, Chief Commercial Officer at International Registries, Inc.| Managing Director, Piraeus - Greece

Chief Commercial Officer at International Registries, Inc.| Managing Director, Piraeus - Greece

“As it always does, the global maritime industry will still function, being a necessity for trade and commerce. But it will be a more modern industry built around today’s challenges. The coming year will see a more realistic belief and use of digital tools for many reasons, including compliance, competitive advantage, and convenience”.