5.1 The Company should periodically review and
evaluate the effectiveness of the SMS in accordance with procedures
established by the Company. Further, it is one of the master's responsibilities
to review periodically the safety management system and to report
its deficiencies to the shore-based management.
5.2 Management reviews support Companies efforts
in achieving the general safety management objectives as defined in
section 1.2.2 of the ISM Code. Based upon the
results of such reviews, the Company should implement measures to
improve further the effectiveness of the system. The review should
be performed on a periodical basis as defined by the Company or when
needed, e.g. in case of serious system failures. Any deficiencies
found during the management review should be provided with appropriate
corrective action taking into account the Company's objectives. The
results of such reviews should be brought to the attention of all
personnel involved in a formal way. The management review should at
least take into account the results of the internal audits, any non-conformities
reported by the personnel, the master's reviews, analysis of non-conformities,
accidents and hazardous occurrences and any other evidence of possible
failure of the SMS, like non-conformities by external parties, PSC
inspection reports, etc.