SHIPPING’S BRAVE NEW WORLD
COVID-19 CRISIS
The outbreak and spread of Covid-19 around the world has impacted shipping to various degrees and the immediate future for most sectors looks bleak. The cruise industry has been particularly hard hit, with all ships, well over 400, out of operation and laid up at a cost expected to total more than $1 billion (see pages 14-15).
Carnival Corporation alone, with more than 100 vessels under its various brands, is estimating a ‘hot’ layup cost of between $2
