under the aegis of IACS, which clarify the intent and application of the international
standards. In the latter case of goal-based standards, the IMO may establish broad
requirements and then leave it to the Classification Societies to develop the detailed Rules
that will allow industry to meet those targets. The current focus of the IMO is a new and
transparent goal-based regulatory framework for hull structures of oil tankers and bulk
carriers. This represents a significant change to the current complex system of largely
prescriptive statutory international and national regulations, classification rules and
industry standards.