Australia Reviews Maritime Shipping Regulations

The Australian Government has appointed Ms Lynelle Briggs and Prof Nicholas Gaskell to co-chair reviews of the Shipping Registration Act 1981 and Coastal Trading (Revitalising Australian Shipping) Act 2012, aiming to modernize regulations for the maritime industry. This initiative responds to the Strategic Fleet Taskforce report and is part of the Government's commitment to bolster the maritime sector. Meanwhile, global shipping faces significant challenges, including disruptions caused by geopolitical tensions and climate-related issues impacting key trade routes like the Panama Canal and the Suez Canal. Recent incidents, such as the collapse of the Key Bridge in Baltimore, highlight the vulnerabilities in the shipping industry, with economic losses estimated at $15 million per day during port closures. As international shipping registries show a decline in U.S. flagged vessels, with only about 180 remaining, the U.S. is losing its maritime influence despite increased global shipping volumes. The overview of these challenges emphasizes the need for resilience and proactive planning in the logistics sector.