In our special column this time, we are pleased to host an interview with Peter Sand, Chief Shipping Analyst at BIMCO who finds his job both exciting and challenging as it combines his two key areas of interest: geography and money in a perfect manner, as he explains.

We have asked Mr. Peter Sand, BIMCO’s Chief Shipping Market Analyst, to make an assessment of 2020 from his perspective and share his message for the new year across the global community. Among others, Mr. Sand notes that 2021 is likely to be another year of scarce ordering of newbuildings. The industry must carefully protect cash flows, stay close to key costumers and most importantly get crew change done.

The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. Mr. Peter Sand mentions that 2017 will see another year of die-hard competition, which now includes tankers. In 2016, the container shipping industry bit the bullet in terms of demolition and consolidation to help the market to recover. The dry bulk sector needs to copy that approach.

In the first quarter of 2021 high-sulphur fuel oil (HSFO) has been the only bunker fuel to experience year-on-year growth in Singapore, the world's largest bunkering hub, explains Mr. Peter Sand, BIMCO's Chief Shipping Market Analyst.

Mr. Peter Sand, Chief Analyst, Xeneta, says that this year brings several challenges to the carriers but opportunities to the shippers and explains how the ongoing global supply chain crisis will evolve in the coming years, according to Xeneta data.