The shipping industry has been through a tumultuous time since the outbreak of the COVID-19 pandemic, but there are positive signs of growth and innovation on the horizon. Despite the weak demand in March, the industry is projected to see around 1.4% market growth in volumes globally. Companies like ZIM are upgrading their services to Australia by adding direct calls from Pusan and Kaohsiung to their CAX and TFX services respectively, and Hapag-Lloyd has achieved the milestone of equipping 100,000 of its reefer containers with a monitoring device.

Moreover, companies are collaborating to improve safety and efficiency in the industry. For example, GSBN is working with COSCO SHIPPING, OOCL, and SICIT to enhance the safe transportation of chemicals and lithium batteries by using blockchain technology. This new streamlined process ensures that all parties across the supply chain have access to accurate and reliable information.

Meanwhile, MSC continues to lead the charge in the sale and purchase secondhand market for vessels, with plans to acquire its 300th secondhand ship soon. The company has purchased 292 vessels since August 2020, which is unprecedented in the history of shipping.

In addition to these developments, SeaLead has launched a direct service between the east coast of Australia and the Indian subcontinent, deploying two container vessels with a capacity of 4,250 TEU each. EMC has also ordered 12,500 containers from Singamas Container Holdings for $34.3 million, despite the current weak market conditions.

While the shipping industry has faced its fair share of challenges over the past few years, it is encouraging to see companies adapting and innovating to meet the demands of an ever-changing global market. These recent developments show that the industry is moving towards a more efficient and sustainable future. As we move forward, it will be interesting to see how these innovations continue to shape the industry and improve supply chain operations.