Blogs

Maersk Fears Volumes Handled By The Carrier Could Fall By 25 Percent In The Current Quarter Maersk has gained a huge amount of popularity by establishing its significance as the largest container line in the whole world and is highly revered in the maritime industry. However, the unforeseen circumstances owing to the ongoing COVID-19 pandemic has put the giant organization in a tight spot as the CEO of A.P.Moller-Maersk has warned the team about an unfortunate slump in the volumes handled by the carrier. The reduction can affect the volumes by an approximate of 25 percent and can usher in a phase of losses for the world-famous organization in the wake of the disastrous Coronavirus outbreak. Since the global market growth has been largely affected by the pandemic, Maersk is experiencing low visibility and has incurred losses but is still taking great care to ensure that its clients can maintain the smooth flow of the supply chains. Zvezda Shipbuilding Complex Introduced Its First Newbuild In Russia The Russia-based Zvezda Shipbuilding Complex has successfully launched its very first newbuild for a reputed oil company called Rosneft. The groundbreaking achievement happens to revolve around a 114,000 dwt dual-fuel tanker by the name of Vladimir Monomakh which is one of the 12 vessels being constructed and is technically the first Aframax to be built in Russia. The vessel has utilized the special Vympel floating transfer dock as supervised and reviewed by the expert team at the Zvezda Shipbuilding Complex. Panama Canal Makes Sure That The Prevalent Water Issues Are Being Recognized There is no denying the fact that the COVID-19 pandemic has disrupted the normal operations in the shipping industry as the marine giants are left dealing with new problems that are surfacing every other day. Currently, the Panama Canal Authority has reassured the concerned shippers that it will seriously probe into the water-related issues within the canal and will allow the smooth operations with the use of a secure draft. The canal is also dealing with its fifth driest year in its long-standing history of 70 years where it has allowed the safe passage of thousands of vessels. The Panama Canal Authority is also making a conscious effort to minimize its draft restrictions along with reshuffling its reservation system and bring about much-needed flexibility in its booking slots and expected fees. Yang Ming Announces Its Blank Sailing Strategies And Strengthening Its Operations in The Second Quarter The Yang Ming Marine Transport Corporation recently organized an essential board meeting to manage the issues cropping up from the subsequent decrease in volumes. The conclusion focusses on a detailed overview of its container business performance during the unpredictable course of the COVID-19 pandemic that has no end in sight as of now. Yang Ming has devised a blank sailing plan in the upcoming Q2 to lessen the harmful impact of the global crisis and can lead to a reduction in revenue due to the large-scale withdrawal of capacity in the second quarter. The organization is striving hard to reorganize and improve its existing operational structure and to resume its container business operations with increased profit and a well-balanced risk control strategy. The World Economic Forum Considers Blockchain Technology As A Powerful Instrument To Fix The Supply Chain Issues As we are aware of, the COVID-19 pandemic has majorly influenced the day-to-day operations of shipping organizations across the world as the ports and supply chains are experiencing a pitiful decline in the overall volumes and are devoid of profits. Needless to add, the supply chains and data exchange mediums have been disconnected on a global level since entire economies and ecosystems are being displaced and disrupted on a large scale. According to the views put forward by the World Economic Forum (WEF), the avant-garde blockchain technology could play an integral role in reconnecting the supply chains and to restore some balance. Sources: https://splash247.com/maersk-ceo-warns-volumes-could-slide-by-up-to-a-quarter-in-q2/ https://www.marinelink.com/news/russias-zvezda-launches-first-ever-478473 https://maritime-executive.com/article/panama-canal-ensures-secure-draft-levels-for-transit http://www.eximin.net/NewsDetails.aspx?name=43993 https://www.porttechnology.org/news/blockchain-the-key-to-connecting-the-world-post-pandemic/