The impact of the COVID-19 pandemic on the shipping industry is obvious, not only decreasing demand growth prospects for the year across all segments, but also affecting fleet development.
In light of the COVID-19 pandemic, the group president and CEO of Mediterranean Shipping Company (MSC), Diego Aponte wrote an open letter marking the company’s actions in order to continue business during the outbreak.
Following the DNV GL annual report for 2019 and its improved market conditions, the Norway-based company announced that is fully prepared for the ‘2020 decade of transformation’ and the short-term challenges that brings.
In light of the COVID-19 pandemic, European Community Shipowners’ Associations (ECSA) recently informed that its first priority will be the rescue and full recovery of the European shipping industry, instead of the European Green Deal.
In order to support shipping companies and owners of Cyprus, the region’s Shipping Deputy Ministry has put in place new measures for its operations, addressing the difficulties encountered due to the COVID-19 outbreak.
During their meeting on 2 April, ECSA’s Board of Directors requested governments and Brussels to take action and adopt a rescue and recovery plan concerning the maritime field, which is now coming close to collapse following the COVID-19 impacts.
During a virtual meeting on 1st of April between the IMO Secretary- General Kitack Lim, UN chiefs and the UN Secretary-General was among others addressed the COVID-19 pandemic situation and its impacts around the maritime industry.
As the COVID-19 pandemic worsens, geopolitics are at the centre of attention in the tanker market these days, followed by the OPEC+ negotiations which are falling apart, resulting to the crude oil tanker spot freight rates, and time charter (TC) rates have soared.
RightShip announced a new program for the dry bulk sector which aims to ensure the highest levels of safety, security and environmental excellence. The new Dry Bulk Management Standard (DBMS) aims to support the improvement of safety and risk management standards within dry bulk ship management and help drive collaboration, conversation and increased standards in the sector.
The Suez Canal Authority announced that the navigation traffic in the channel is regular and proceeds according to the normal rates of the numbers and tonnage of ships transiting the channel.
COVID-19 impacts fleet development and demand06/04/2020
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