Proposal for a Comprehensive Risk Framework for the Canadian Marine Shipping Industry: A Systematic Approach to Managing Transport Risks in Canadian Waters Based on an ISO 31000 Foundation

Abstract

Marine shipping is an indispensable sector for the Canadian economy, with projections that both the number of vessels and size of vessels will increase in coming years. Although there are effective regulations in place, traversing Canadian waterways is a relatively high-risk form of transport, with an abundance of uncertainties arising from inevitable tangible and intangible hazards. As such, environmental and safety risks are evident. To mitigate risk from ships and risks to ships, effective risk management processes should be implemented. There is an array of risk assessment toolboxes, guidelines, and procedures for specific regions and shipping projects in Canada. However, a transparent, cohesive, and comprehensive risk framework (RFW) for the broad Canadian marine shipping sector that can be used as a guiding structure is still lacking. This paper proposes a RFW that can be utilized by risk practitioners, policymakers, researchers, etc., and people who are not necessarily experts in the field of risk. Drawing on an integrative literature review of secondary source data as the methodology, and using ISO 31000 as a guiding foundation, a RFW is proposed. The objective is for Canadian marine shipping transits to occur with as minimal risk as possible and become a leading nation in maritime sustainability and safety. This paper provides further research opportunities for best practices and quantifiability throughout Canadian risk management processes.

Keywords: risk framework, marine shipping, Canadian waters, maritime safety, shipping hazards, risk management, transparency, comprehensiveness