Alarm bells are ringing across the trillion dollar world shipping industry as it scrambles to comply with a July 1 deadline for some of the toughest security measures since World War II. The United Nations’ security requirements, the International Ship and Port Facility Security (ISPS) code, are mandatory for all merchant ships and ports engaged in global trade. Yet only a fifth of the world’s merchant fleet is compliant with the code, due in just 40 working days, leading industry figures say. The United States, fearful of a seaborne attack against one of its ports by al Qaeda, has said it will strictly enforce the code and expects other nations to do so, raising fears that the measures could slow or even harm world trade. Full Story