Without shipping, life would be different. We would have limited access to a lot of the food we consume, pharmaceuticals, clothes, and consumer goods, as around 90 percent of world trade is transported by ship.
The impact of COVID-19 will continue even as we enter 2021, and we still cannot deny that cargo trade will sink into a double-dip recession until the beginning of spring.
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport.
At a rate of eight percent, the decline in seaborne cargo in Germany’s largest universal port lessened considerably in the third quarter compared to the second.
The leaders of the major shipping bodies met virtually to discuss the most pressing issues facing the industry as we move into 2021.
An ageing fleet of ships and historically low levels of newbuild activity present significant challenges to the International Maritime Organization’s goal of reducing overall CO2 emissions from the shipping industry.
In order to make the shipping industry more attractive and competitive, the Government has taken various measures in recent years.
The European Parliament has voted to extend the EU Emissions Trading Scheme (ETS) to the shipping sector – which currently pays nothing to emit CO2.