Sovcomflot expects revival of global trade in 2021
The regulatory pressure on shipping companies is growing worldwide
Global trade and shipping recovery is expected in 2021 with lifting of restrictions undertaken to prevent the spread of coronavirus infection, Igor Tonkovidov, President and CEO of sf SCF Group said at the Transport Week in Moscow. “The market is waiting for removal of constraints which is likely to happen next year”, he said.
According to Igor Tonkovidov, the market is affected not only by the pandemic but also by the growing regulatory pressure on the marine industry from international institutions for reduction of harmful emissions from ships.
“As of today, the shipping industry does not fully understand which measures and methods will ensure compliance with the IMO targets on reduction of emissions by 2050”, said Igor Tonkovidov. He also emphasized that the market would not have fully functional alternatives to LNG as a fuel in the mid-term.
In its turn, Sovcomflot actively contributes to the development of LNG bunkering infrastructure and market.
The head of Sovcomflot also spoke about the rotation of crews which became a challenge amid the pandemic. According to Igor Tonkovidov, IMO recommendations on ensuring a 'green corridor' for seafarers are often ignored with local authorities imposing additional requirements on seafarers. Igor Tonkovidov believes unified repatriation mechanisms are needed on the global, regional and national levels with preliminary development of executive decisions.