Experts are sailing through some smooth waters in the shipping industry, but there’s a storm on the horizon. While large shipping losses have hit a record low, according to Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2020, there are plenty of challenges ahead, not least of which is the coronavirus pandemic and the impact it’s had on the industry already.
“I see it on a first-hand basis daily,” said Captain Andrew Kinsey (pictured), senior marine risk consultant at Allianz Risk Consulting (ARC). “Every aspect of the supply chain has been impacted, from production facilities and module yards with project cargo, to vessels being able to carry cargo, being able to get underway, and maintain their port calls.”
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