Funding of the International Maritime Research Board (IMRB) would need to be overseen by flag state administrations and supported by port-state-control authorities, according to its proposers.
The IMRB would need to be able to support numerous research-and-development (R&D) projects undertaken by multiple research institutions and other qualified entities around the world, they added.
It would only manage "applied research" projects and although this work could include development of working prototypes for transoceanic vessels or addressing technical and safety issues associated with the use of new fuels, it would not include their commercial development or taking them to market.
