The International Maritime Organisation (IMO) closed its headquarters in London to all visitors and staff for the second day in a row on Friday as a cautionary measure following the World Health Organisation’s (WHO) announcement that the outbreak of Covid-19 is now a pandemic.
Over and above the fall-out from Covid-19, the shipping industry has had a rocky start to the year with the introduction of the IMO2020 sulphur cap on January 1 introduced to help slash global carbon emissions by reducing the amount of sulphur used in bunker fuels from 3.5% to 0.5%.
However, while the shipping industry was focusing on installing scrubbers and looking for sustainable and more cost-effective fuel alternatives, the coronavirus was spreading and has now brought most of the sector to a standstill.
According to a report by the International Chamber of Shipping (ICS) published earlier this month, the outbreak of the virus is costing the sector a staggering $350 million a week with more than 350 000 containers removed from global trade. – Bjorn Vorster
