COVID-19 has led to unprecedented developments in the energy markets: a rapidly developing surplus; a 20m bpd drop in oil demand expected over Q2; OPEC supply cuts / G20 policies; implied 1.4bn bbl stock build in Q2; generational lows in oil prices; storage needs onshore and afloat. Clarksons Research have produced a research briefing focussed on the impact of COVID-19 on the offshore and energy markets.
As the economic impact of Covid-19 deepens globally, Clarksons Research have updated their briefing series monitoring the shipping impact. Summarising the briefing, Stephen Gordon, Managing Director of Clarksons Research, provided selected extracts from the analysis.
In response to queries from maritime stakeholders regarding the impact of COVID-19 restrictions on survey and certification matters, IACS issued a letter describing actions that have been taken by IACS and its members to help the shipping industry maintain business continuity through these challenging times.
The International Group has launched a new online digital tool to assist shipowners, charterers, operators and other parties in the maritime sector to track country and port specific advice, detailing the measures being put in place in response to the COVID-19 pandemic.
This IUMI guidance paper gives an overview of the impact of the COVID-19 virus on marine insurers and their clients’ business. Information and developments were accurate at the date of publication. This
The European Commission’s response to the Covid-19 pandemic includes keeping essential transport of goods such as medical supplies moving. Many Member States have announced restrictions to transport. This website published by DG Mobility and Transport features a list of such measures sorted by country.
In the first part of this webinar, Christopher Palsson from Lloyd’s List Consulting, provided an analysis on the impact on the shipping market. This was followed by an update from Matthew Wilmshurst, Senior Associate at HFW on potential implications and legal questions arising for marine insurers.
As governments worldwide continue to implement restrictions with the aim to minimise the spread of the coronavirus, the major shipping organisations are equally focused on the publication of useful advice, information and analyses related to the outbreak which help the industry to better cope with the consequences of the virus.