The shipping industry is subject to a number of regulations, which in the area of safety and the environment are motivated by the scale of external costs and imperfections in information. There is a clear rationale for governments to establish and maintain adequate standards for maritime safety, as well as protection of the marine environment, which represents a valuable public good. However, certain maritime transport operations are substantially affected by a number of regulations that restrict competition. Because of that, reforms are required to correct mistakes of the government. It is particularly important to strive for reforms that can be effective in providing unrestricted market access for vessels of all flags. Due to the international character of the industry, regulations are reliant on a consensus between nations, without which any regulation would be of limited use. Most of the existing international regulations have been developed by international, intergovernmental organizations.