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Maritime trade which is the lifeblood of Asian countries including Sri Lanka, could be poised for turbulent times according to the webinar, “Oceans in Crisis: COVID’s impact on Maritime Economics and Seafarers” organized by the CNA Corporation, a non-profit research and analysis organization based in the US.
LKI’s Executive Director, Dr. Ganeshan Wignaraja speaking on the global maritime economy, said that the data suggested a cautious maritime outlook for 2020 and 2021 amid mounting global and regional risks including high debt levels among major maritime shipping companies, weak industry confidence, and growing trade tensions internationally. Based on preliminary work conducted at LKI, he forecast a -8% drop in global maritime trade in 2020 with a possible 5% recovery next year.
Please click below for the recording of the webinar titled “Oceans in Crisis: COVID’s impact on Maritime Economics and Seafarers”: