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    Wakashio

    JTSB releases its final report on Wakashio grounding

    longlinder grounded

    Crewmember falls from tanker off Boston

    New partnership aims to reduce the risks posed by dry bulk cargoes

    St. Lawrence Seaway resumes traffic as grounded vessel is refloated

    High risk of asbestos exposure at shipyards: What to be aware of

    High risk of asbestos exposure at shipyards: What to be aware of

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    thinking out of the box

    Thinking out of the box: 5 tips for creative thinking

    Practicing gratitude can change your life

    Practicing gratitude can change your life

    Always do what your gut tells you: Keep it healthy

    Always do what your gut tells you: Keep it healthy

    Book Review: A role model for ship managers

    Book Review: How we perceive and deal with luck in life and business

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    • Arctic
    • Ballast
    • Emissions
    • Fuels
    • Green Shipping
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    Seaside LNG becomes the latest member of the SEA-LNG coalition

    Seaside LNG becomes the latest member of the SEA-LNG coalition

    Grieg Green: It’s time to shed our focus on workers’ rights at ship recycling facilities

    GMS: India recyclers affected by improving sentiment

    KCC combines several energy saving technologies for maximum results

    KCC combines several energy saving technologies for maximum results

    cma cgm french shipping decarbonization

    CMA CGM completes massive methanol feeder order

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    Two COSCO companies issue their first electronic bills of lading

    Two COSCO companies issue their first electronic bills of lading

    Jotun Hellas pioneers vessel maintenance and safety with novel Aerial Drone Inspection Service

    Jotun Hellas pioneers vessel maintenance and safety with novel Aerial Drone Inspection Service

    IUMI explores the implications of digitalization on marine insurance

    IUMI explores the implications of digitalization on marine insurance

    UK-Singapore consortium achieves world’s first fully-digitalised shipment

    UK-Singapore consortium achieves world’s first fully-digitalised shipment

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    canada shipwreck

    Ghana imposes strict PSC and fines over MARPOL violations

    ClassNK amends its rules on construction of steel ships

    Liberia: How to comply with PSC focus on firefighting and clean machinery spaces

    orange county oil spill fines

    Crude oil tanker to pay 88 crores for damaging Haldia oil jetty

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    MARPOL 50 Watch Column: Expert thinking on tackling marine pollution and climate crisis worldwide

    MARPOL 50 Watch Column: Expert thinking on tackling marine pollution and climate crisis worldwide

    Valenciaport: ETS poses many risks for non-EU ports

    Valenciaport: ETS poses many risks for non-EU ports

    World Maritime Day 2023: Celebrating 50 years of MARPOL

    World Maritime Day 2023: Celebrating 50 years of MARPOL

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    Gard Club: Industry needs to mature and learn from incidents and human errors

    Gard Club: Industry needs to mature and learn from incidents and human errors

    Tokyo MOU: Fire Safety is one of the most frequently detainable deficiencies

    Tokyo MOU: Fire Safety is one of the most frequently detainable deficiencies

    Seafarer Stories: Capt. Cristian Bacanu, Master

    Seafarer Stories: Capt. Cristian Bacanu, Master

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SAFETY4SEA

Goodbye 2020, Hello 2021: Peter Sand, BIMCO

by Peter Sand
December 24, 2020
in Opinions, Shipping
Goodbye 2020, Hello 2021: Peter Sand, BIMCO
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This time of the year is always a good opportunity to consider lessons learned and set new year’s resolutions for a new start. Our special column Industry Voices : ‘Goodbye 2020, hello 2021’ aims to provide an overview of this challenging year and set new targets for 2021 to move forward.

In this context, 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 industry must carefully protect cash flows, stay close to key costumers and most importantly get crew change done.

SAFETY4SEA: Focusing on your area of expertise, what were the most important industry development(s) within 2020?

Peter Sand: What happened in Container shipping, during Q2 especially, with the industry acting promptly to evaporating demand. And later in the year, the efforts made to satisfy the sudden lift in demand. That was extraordinary.

RelatedNews

MARPOL 50 Watch Column: Expert thinking on tackling marine pollution and climate crisis worldwide

Gard Club: Industry needs to mature and learn from incidents and human errors

 

S4S: Focusing on your area of expertise, what do you think that will be the biggest challenge(s) for the industry in 2021?

P.S: Two things: short-term, the gradual demand recovery that will be a challenged throughout the year. Long-term: the path towards a decarbonised industry and world.

 

S4S: What would be the 2021 resolutions for your company/organisation?

P.S.: To be the chosen partner trusted to provide leadership to the global shipping industry.

 

S4S: What is your overall forecast for shipping industry in 2021 and what would you like to share and/or wish and/or ask other industry stakeholders?

P.S.: 2021 is likely to be another year of scarce ordering of newbuildings. China will confirm its even larger dominance in the dry bulk market. As global economics will not be back at pre-pandemic level earlier than 2022, so will the demand for shipping stay subdued. The industry must carefully protect cash flows, stay close to key costumers and most importantly get crew change done. The latter being long overdue.

 

The views presented hereabove are only those of the author and do not necessarily those of  SAFETY4SEA and are for information sharing and discussion  purposes only.

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Peter Sand

Peter Sand

Peter Sand joined Xeneta in 2021 after over a decade at BIMCO, where he was responsible for analyzing commercial markets based on the global economic situation and its influence on trade. Prior to Sand’s Chief Shipping Analyst role at BIMCO, he worked with D/S NORDEN, a Danish shipping company operating in the dry cargo and tanker segments worldwide, as a Senior Analyst. Throughout his career, Sand has been regarded for his widely read articles and industry insights, as well as his regular appearances on global news networks such as CNN, BBC, CNBC and Bloomberg. He holds a Master’s in Economics from the University of Copenhagen.

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