Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

Top global traders work to ease seafarer crisis due to coronavirus

2021 01 26T000834Z 1 LYNXMPEH0P00C RTROPTP 4 HEALTH CORONAVIRUS SHIPPING SEAFARERS - Global Banking | Finance

By Jonathan Saul

LONDON (Reuters) – Over 300 leading companies said on Tuesday they would work together to help hundreds of thousands of merchant sailors stuck on ships for many months due to COVID-19 in a crisis that risks creating more dangers at sea.

About 90% of world trade is transported by sea, and coronavirus restrictions in many jurisdictions are affecting supply chains.

In December the U.N. General Assembly urged all countries to designate seafarers and other maritime personnel as key workers. Nevertheless, ship crews are still struggling to swap over with colleagues on land.

Shipping industry officials say many sailors are at breaking point and many have been at sea for longer than an 11-month limit laid out in a maritime labour convention.

The companies, which include shipping groups such as A.P. Moller Maersk, miners Anglo American and Rio Tinto, oil majors BP and Royal Dutch Shell as well as trading companies Cargill, Trafigura and Vitol, will boost information sharing as signatories of the “Neptune Declaration” initiative.

“All of us have a duty of care to seafarers,” said Kit Kernon, global head of shipping at Vitol.

“Their wellbeing is essential to safe and efficient operations.”

Signatories will also increase collaboration between shipping operators and charterers to speed up crew changes while also calling for key worker status for mariners.

“We are witnessing a humanitarian crisis at sea,” said Jeremy Nixon, chief executive of shipping group ONE.

“They have become hostage of the situation and unable to disembark from their ships.”

Sven Boss-Walker, senior vice president of shipping at BP, said the “remote nature of their roles meant their contributions are often out of sight and out of mind”.

“It is critical that the industry comes together to provide a collaborative response,” Ashley Howard at Rio Tinto added.

(Editing by David Evans)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post