IACS presents united front

On 13 June, the ceo’s of the members of IACS met to discuss the progress of IACS?s common rule developments for oil tankers

and

bulk carriers,

and

agreed that:

1. The implementation date of common rules will take place for all members on 1 April 2006,

2. with adoption the rules will be the property of each individual member of IACS,

3. certain harmonisation work has been specified

and

will be completed before

adoption,

and

further harmonisation work will be undertaken after adoption. The

details of this work will be stated to industry before adoption of both sets of rules,

and

4. the cost arrangements are no longer an issue between the IACS members.