The Briefing on the maritime industry
The news, views and numbers you need to know this month
News in numbers
1,300
The number of people expected to lose their job after Royal Caribbean Cruise announced it planned to lay off 26% of its US workforce due to the Covid-19 pandemic
27.3%
The percentage drop in Chinese shipbuilding output in Q1 2020, according to the China Association of the National Shipbuilding Industry (CANSI)
520
Swedish company Stena RoRo announced it would offer the Stena Saga cruise ferry as a hospital ship, with capacity for 520 passengers
24
The number of small shipyards to be awarded a grant totalling $19.6m by the US Department of Transportation (DOT) in late April
413 million
Total increase in deadweight tonnage (DWT) added to the global dry bulk market since 2010 – marking an 88% increase – according to BIMCO
$3.01bn
Qatar Petroleum (QP) has signed a $3.01bn agreement to reserve liquefied natural gas (LNG) ship construction capacity in China, which will be used for future LNG carriers
In quotes
Abu Dhabi Ports Group CEO Captain, Mohamed Juma Al Shamisi after ships in ports worldwide agreed to sound their horns each evening for the ‘Horns of Hope’ campaign:
We are proud of all essential critical infrastructure workers – administrative and core operations employees who are still working on ground, and around the clock, to drive business continuity, both in Abu Dhabi’s ports as well as all teams working in all ports across the world. We highly appreciate all the government efforts to face the Covid-19 consequences, and its strong commitment to support all business sectors.
BIMCO Chief Shipping Analyst, Peter Sand speaking in an industry update in late April:
The lower freight rates in the past decade compared to the 2000s are testament to the lower demand growth that has dominated since the Great Financial Crisis and the oversupply of shipping capacity. The recession that will follow in the wake of the coronavirus and its containment measures, as well as how the world will emerge from it, will set the tone for this decade.
IMO Secretary-General, Kitack Lim speaking in a personal message dedicated to seafarers in late April:
Seafarers, my dear colleagues, you are on the front line in this global fight. Your work is essential, and your situation is unique. I wish you good health and good welfare in this time of crisis. I want you to know that you are not alone. You are not forgotten. Stay strong.
Electrification – maybe that’s a black swan. Maybe by 2050 we will have found a way to include decarbonized electricity within the maritime sector. That would be transformational.
Reader survey
Last month, we asked readers on our sister website Ship Technology:
Is the shipping industry doing enough to reduce its carbon footprint?
18%
Yes, it is doing enough
23%
Unsure
59%
No, it is not doing enough
How concerned are you about spread of Coronavirus?
72%
Very concerned
14%
Slightly concerned
3%
Neither concerned nor unconcerned
5%
Not very concernelatod
6%
Not concerned
From Twitter
