2021 CONTAINER SHIPPING REPORT PUBLISHED BY ALIX PARTNERS
Global consulting firm, Alix Partners, has published the 2021 Container Shipping Report. For at least three decades, the container shipping industry has been locked in a recurring boom and bust loop. During times of strong macroeconomic growth, shipping rates would soar and container ship operators would reinvest their profits in new, ever-larger vessels. Then the economy would slide into a downturn, demand would plunge, rates would tumble, and operators would find themselves burdened with heavy debt and idle vessels. As overcapacity kept a tight lid on rates, leverage would expand, revenues would fall, and ship operators would tumble into bankruptcy or stay out of court, thanks only to amend and extend agreements with their creditors. Today, however, the fundamentals that would support a breakaway from that cycle are in place.
The 2021 Container Shipping Report says the sector is enjoying a boom phase, with global container freight rate indexes topping $5,000 per 40-foot container in February 2021 after climbing steeply and steadily since May 2020.1 And this time, with a few notable exceptions, carriers aren’t flooding the world’s shipyards with orders yet. Instead, carriers have to date successfully managed capacity, keeping rates stable even as demand slipped by 5% during the first nine months of 2020 while overall capacity increased by just 2%. Meanwhile, idle capacity, which rose to 11% in May 2020, retreated to 3% by the third quarter of the year because the industry increased blank sailings and suspended service on some routes. Carriers also cut sailing speeds, which fell 1.8% in 2020.
Access the full report at
https://bit.ly/31vxlsK.
MARINE INSURANCE COMPANY DEVELOPS AN APP FOR MINIMIZING LOSSES AND KEEPING OPERATIONS ACCIDENT-FREE
The Alandia Loss Prevention mobile application offers an innovative hands-on solution for professional mariners for transforming everyday routines into truly proactive safety management.
Proactive maritime safety management requires efficient communication, regular reporting, and up-to-date safety know-how. Alandia has developed a mobile application to help foresee and prevent any accidents that might involve a vessel, its crew, or any damage to the marine environment.
“The main purpose of the Alandia Loss Prevention application is to minimize losses and keep operations accident-free by enhancing communication and integrating safety observation reports into daily routines,” says Martti Simojoki, Senior Loss Prevention Manager at Alandia.
The benefits of the application are two-fold: while it works as an important reminder of safety matters and an engaging tool for safety education for Alandia’s customers, it also helps Alandia’s own Loss Prevention team to understand the needs and challenges of their customers.
The application collects anonymous statistics and safety tips from vessels around the world, which enables Alandia to identify various risks and to use the data to improve safety.
“Collecting and sharing data from a large number of vessels enables further risk identification and analysis, which allows employing proactive countermeasures well in advance,” Simojoki concludes.
The Report • June 2021 • Issue 96 | 13
Marine News
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