Dear clients,
2021 has been one of the most exceptional years that shipping has seen in recent times. Though global uncertainty has not yet abated, freight levels are at the highest they have ever been since 2008, driven by a combination of a reduction in vessel supply, and changes in supply chain and transport networks, along with a recovery in seaborne demand. With the orderbook at historical lows, favourable supply and demand fundamentals should ensure healthy earnings for vessel owners in the next two years as the global economic outlook improves.
Digital transformation is another significant trend impacting the industry. Advancements in digital technologies have given us unprecedented abilities to collect, store and process large amounts of data. New digital technologies are constantly evolving to make the maritime industry safer, cleaner, more secure, and efficient.
The final transformation is the shift towards decarbonisation. In the world’s transition to a net zero future, the maritime industry has to innovate and shift towards cleaner and greener ships. Shipowners cannot do it alone and the entire supply chain must transform. Stakeholders including governments, regulators, charterers, owners and operators must collaborate to establish a cohesive strategy that drives the research and development of zero carbon fuels and technologies. Major funding is required to speed up the development of alternative fuels and emerging technologies which also need to be implemented and adopted on a wider scale. This is where finance and investment can play an active role.
In this inaugural edition of Bankable Insights for shipping finance we are celebrating the maritime industry’s journey to transformation. We have collated a series of articles and videos that embody the positive momentum in the maritime industry, and the role Standard Chartered is playing in it.
A big thank you to all who have partnered with us to make a difference to maritime’s future.
Abhishek Pandey Global Head, Shipping Finance
