tion at the international level via amendments to MARPOL Annex VI is the most effective way that can be followed by the shipping companies to achieve both financial as well as ethical success. To accomplish this, hardwares, including the internal as well as the hardware need to be quality tested and has to be made sure that it is sea worthy. Then importantly, the environment should be made devoid of the dangerous SOx and NOx. For that, variety of technologies is available in the market for the shipping companies. Thus, shipping organizations should understand the serious nature of the problem and put their minds to come up with strategies that can overcome the negative fallout.
For every ship management company, the concept of social responsibility is of vital importance. Vital importance in the sense, it is not a compulsion on the part of ship management company to imbue social responsibility in their policies, strategies and goals. However, if it were added, it would function as a right ingredient positively changing the lives of not only the common people but as the well as the organization, both in the financial sense as well as in the image sense. So, ship Management Company has to find ways to initiate plans to cater to the common people in the society and importantly protect or not destroy the environment through eco-friendly measures. They could do this by organizing separate actions or events that will fulfill its social responsibility. Or the ship management companies could do this, by integrating certain policies or rules into their setup, which apart from helping the organization in smooth and effective functioning, also helps to fulfill its social responsibility. “It is worth stressing that being socially responsible means not only complying with relevant legislation, but also going beyond compliance and investing more than required into human capital and the relations with stakeholders” (Fafaliou, Lekakou and Theotokas 2002)