| Summary: | It has been estimated by UNCTAD that 80% of global trade volumes are carried by sea (Vidya & Prabheesh, 2020). As shipping facilitates international trade, shipping and its activities have been said to be a facilitator for globalisation. This helps businesses and consumers have access to global resources at a cheaper prices as competition increase. Overall, shipping and globalisation has allowed goods and people cross borders which allows the beneficial growth of every economy.
However, as the global economy continues to converge as globalisation proliferates, countries become more and more interconnected. This interconnectedness has its drawbacks as seen by the ongoing COVID-19 pandemic which has been plaguing the world since the end of 2019. COVID-19 has been a huge wake-up call for the world as it spreads and mutates affecting the global economy and the public’s health.
This report aims to study the various challenges posed by this novel coronavirus outbreak and the impacts to the maritime industry. The effectiveness of current solutions would also be assess and recommendations would be suggested in order to further mitigate or reduce the negative impacts of the virus on the shipping activities.
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