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Modernizing Maritime Safety: Overhauling the International Safety Management Code

by THEFUTURE.TEAM
August 11, 2025

Modern Maritime Challenges Demand Modern Solutions

The International Maritime Organisation’s Maritime Safety Committee has issued a decisive call for a comprehensive overhaul of the International Safety Management (ISM) Code. A recent independent study has laid bare significant shortcomings, including inconsistent enforcement, weak oversight, and a disconnection between documented procedures and the lived experiences of seafarers. Issues such as crew fatigue, harassment, and excessive workloads underscore the urgent need for reform.

Data-Driven Critique of the Current Code

Industry leaders from Columbia Group highlight that the ISM Code, once a pillar of maritime safety, now risks becoming a mere box-ticking exercise. Captain Saurabh Mahesh, Group Director Crewing (Operations), emphasizes that a simple redraft is insufficient. Instead, the Code must evolve to address real-world challenges, restore accountability, and ensure that enforcement mechanisms protect the welfare of seafarers. His call to action aligns with broader industry concerns intensifying calls to integrate anti-harassment measures, protect whistleblowers, and reinforce rest hour regulations.

Innovative Solutions and Digital Transformation

One of the most critical reform areas is the manipulation of rest hour records. Captain Mahesh advocates for biometric solutions, such as fingerprint or retina scans, to replace outdated paper logs susceptible to falsification. In tandem with more rigorous external audits and realistic safe manning assessments, these measures promise to modernize an essential safety framework. Such digital innovations, paired with flexible crew scheduling and shore-based relief options during harsh operational conditions, can significantly enhance crew welfare on high-intensity routes.

Balancing Compliance Costs With Diversity And Inclusion Initiatives

Adopting these sweeping reforms is not without risk. Both Captain Mahesh and Claudia Paschkewitz, Director of Sustainability, Inclusion, and Diversity at Columbia Group, caution against unintended consequences. They warn that without strategic planning and adequate support, increased compliance costs could jeopardize seafarers’ earnings and undermine diversity efforts. Effective reform must strike a balance—ensuring standards are enforceable and inclusive, while also reflecting the realities and complexities of modern shipping operations.

Looking Ahead: A People-Centered Framework

The International Maritime Organisation has tasked its Sub-Committee on the Implementation of IMO Instruments and its Sub-Committee on Human Element, Training and Watchkeeping with redrafting the ISM Code guidelines over the next three years. These bodies will integrate comprehensive safety oversight with a focus on human factors, aiming to deliver a revised Code that is enforceable, people-centered, and aligned with current maritime operational challenges. This restructuring represents a pivotal step in ensuring that the ISM Code remains robust and effective in an evolving global maritime landscape.

EU E-Commerce VAT Systems Generate €257.9 Million Revenue for Cyprus in 2024

by THEFUTURE.TEAM
August 11, 2025

Robust Revenue Growth Through Streamlined VAT Collection

Cyprus has demonstrated a significant fiscal boost in 2024 with €257.9 million generated from the European Union’s e-commerce VAT systems, according to Tax Commissioner Sotiris Markides. This impressive performance underscores the effectiveness of the One Stop Shop (OSS) and Import One Stop Shop (IOSS) frameworks in simplifying cross-border tax compliance.

Simplified Procedures for EU and Non-EU Businesses

The OSS system allows Cyprus-registered businesses to streamline VAT declaration and payment on sales to consumers in other EU countries. Companies simply register on the local OSS platform, apply the consumer’s VAT rate, aggregate their submissions quarterly or monthly, and remit a single consolidated payment. Subsequently, Cyprus allocates the appropriate share to each respective EU country. This efficient process extends to non-EU sellers as well, who can have their intra-EU distance sales managed under the Union Scheme.

Breakdown of VAT Revenue Streams

Last year’s declarations under the various schemes illustrate the system’s broad reach: €217.9 million was collected via the Union Scheme, €36.9 million through the Non-Union Scheme, and €3.1 million via the Import Scheme. While the Union Scheme caters to both EU and non-EU sellers engaging in distance sales, the Non-Union Scheme specifically accommodates non-EU firms delivering services to EU consumers. Furthermore, the Import Scheme targets goods valued at less than €150 that are imported from outside the EU.

Implications and Broader Impact

Implemented in July 2021 as an evolution from the more limited MOSS system, these reforms have not only consolidated tax collection through an expansive OSS but also integrated the IOSS for low-value imports. By designating certain online marketplaces as “deemed suppliers,” the new framework ensures that VAT collection is both efficient and equitable. Across the EU, these mechanisms have generated over €33 billion in VAT revenues in 2024, reflecting a successful effort to simplify tax compliance, reduce administrative burdens, and promote fair taxation across the bloc.

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