SHIPOWNERS' BUSINESS POLICY IN THE CONTEXT OF DEVELOPMENT IN THE ENVIRONMENTAL LEGISLATION.

The global financial crisis has caused a standstill on the shipping market and has forced shipping companies changes in the business, which has resulted in the reduced opportunity for ship employment to the extent that some shipowners had to laid up or even sold their primary 'working tools' -- the vessels. The international environmental legislations contributed significantly to the standstill tightening the criteria considering environmental pollution prevention. The goal of this scientific research is to determine the guidelines that will allow the shipowners to adopt their business regarding new circumstances and future developments in the shipping market, taking into account the dynamics of the agreed implementation of new environmental standards, rules and regulations. The shipping market, given its complexity in such circumstances, requires a careful analysis out of which it will synthesize the new specificity, and by applying inductive and deductive methods will reach an acceptable solution, where the system theory method will be the basis for a systematic approach to the study. In conclusion, the guidelines are pointed and possible actions to be taken by shipping companies to anticipate the changes that might facilitate their survival. The research results show that 'environmental friendly' approach is becoming an influential factor in the shipowners' business policy. [ABSTRACT FROM AUTHOR]