ABSTRACT
Representing more than 80 per cent by volume in Q4 2017 (almost 10.6 billion tons) and trending upwards, maritime transport, with shipping at its core, plays a leading role for international trade (UNCTAD, 2017). The undisputed value of shipping for sustainable global economic and social prosperity is reflected upon its consideration by all the major global policy framework milestones. Indicatively, the importance of shipping as a crucial element of international trade and development is recognized by the Addis Ababa Action Agenda, which addresses the issue of financing sustainable, economical, social, and environmental projects (UN, 2015). Accordingly, the 14th Sustainable Development Goal (SDG) of the UN Agenda 2030 refers directly to the need for sustainable use of the oceans and the seas as conduits for trade and transportation, calling for international cooperation and coordination (United Nations General Assembly, 2015).
