International Association of Classification Societies

You have the International Group of Protection and Indemnity Clubs, coordinating third party liability insurance for 90% of global ocean tonnage.

There's the International Association of Classification Societies, which sets the technical safety blueprints for ship construction, I'm going to say destruction, it's based here, and even the Institute of Chartered Shipbrokers here, meaning the global curriculum of how shipbroking is taught worldwide is written on a British template.

When you layer the UN's regulatory supremacy on top of the bulk exchange, Lloyd's, and the Admiralty courts, the density is quite staggering.

Even if the ships are built in Asia, they still have to look to London to know how to build them safely, insure them, and what laws they must follow to pass through the international waters.

What the requirements are for engineering systems, just like any other certification process for a ship, we don't have that for nuclear ships right now.

So the Coast Guard is working on that, ABS and their parent overarching group, IACS, are working on the international rule set for classing and certifying ships, nuclear ships, in a way that is acceptable and common across the landscape.

The last thing we want is establishing our own rules that are different from the international rules that may put us at a cost disadvantage.

So all those things are working, but they're not done.