New issue of GMAP Maritime and Offshore newsletter on Towage

This summer, after months of (semi-)lockdown, we enjoyed freedom again

Meeting our friends and family again, visiting the zoo and from other outings; we got back into teams playing sports and eating out, having a drink, taking little trips - all so much fun because we hadn't been able to do this since March. And while economists debated the V- or W-shape of the crisis and the timing of its rise, the COVID-19 pandemic hit hard again with a second wave.

Now we are in lockdown for the second time and economists are more gloomy than before. All eyes are on the pharmaceutical industry, full of anticipation for the vaccines that will make our lives normal again.

The maritime industry is suffering heavily from the COVID-19 pandemic, and with it the port towage industry. The sector is facing major challenges due to the COVID-19 pandemic outbreak. The sector is witnessing downward pressure from the maritime industry, in line with falling demand and downward decline in manufacturing activities.

Pandemic has exposed vulnerability of long supply chains

The crisis began with a supply disruption as Chinese manufacturers were unable to produce and transport due to local lockdown. And when the lockdown shifted to Europe and the U.S., customer demand was also significantly affected. Inevitably, new trade routes emerged. The regionalization of trade that has already begun will be accelerated by the pandemic; China's One Belt One Road Initiative with emerging trade routes is in full swing; the Arctic Passages are initiatives that have less impact, although they are in development. These new trade routes enable the creation of new ports or contribute to the growing or decreasing importance of ports.

These changing trade flows will undoubtedly reflect developments in towage and tug design: specific requirements for tug versatility and strength increase the need for custom-built vessels. But not only trade flows affect the development of tugs, decarbonization and digitalization have a major impact on designs. Furthermore, new service concepts will appear. All these points are covered in this Newsletter. And as every year we have made our overview of selected towing companies worldwide: where do they tow, how many ships do they operate and has the fleet grown - you will find the answers in our Overview of selected port towing companies.