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"A close analysis of the framework of existing governance and the existing jurisdictional arrangements for shipping and ports reveals that while policy-making is characterized by national considerations through flags, institutional representation at all jurisdictions and the inviolability of the state, the commercial, financial, legal and operational environment of the sector is almost wholly global. This governance mismatch means that in practice the maritime industry can avoid policies which it dislikes by trading nations off against one another, while enjoying the freedoms and benefits of a"