When COVID-19 hit the shipping industry behind the kneecaps, we needed to react fast. As with many suppliers, a lot of our clients had ongoing projects that needed to be postponed, cancelled, or simply put on hold. Like many of us across the industry, we had to see multiple colleagues and connections get laid-off, and ships were stuck in places where border restrictions had been initiated. For a company that deals with dry-docking, suddenly, these projects were hard to execute.
In this ‘new world’, most yards difficult to enter and quarantine requirements made normal attendance very time-demanding, and as we know - time is money. By April the numbers started to show what was going on in the market. Vessels were being forced into layup, three times as many ships were placed in lay-up and twice as many were recycled compared to before COVID-19.