A validation study of ISM Code’s continual effectiveness through a multilateral comparative analysis of maritime accidents in Korean waters

Abstract

This study investigates whether the International Safety Management (ISM) Code remains an effective regulatory tool for the shipping industry by analysing maritime accident statistics published for the last 32 years by the Korea Maritime Safety Tribunal, 24 years by the International Maritime Organization (IMO) and seven years by the European Maritime Safety Agency. For this purpose, the data were divided into four groups: pre-ISM Code, intransit, post-1 and post-2 periods, and tested by multilateral comparative analysis. The results show that the Korean merchant fleet has no improvement over the periods, whereas the world merchant fleet has a continual decrease in serious casualties. This study confirmed a trend of maritime accidents in recent years: fewer in number but heavier in damage. Conclusively, the results suggest that IMO and decision-makers in the maritime industry must review the ISM Code again and seek solutions to achieve the goal of continual improvement, as specified in the code.