Impact of Covid-19 on shipbuilding and shipping industry

ABSTRACT

Covid-19 has been affecting the world for more than two years. The maritime sector in general has been hit hard by the pandemic as well. Since most of the world trade is carried out by sea transportation, the sector has been suffering deeply. The supply and demand chain were broken due to preventive measures such as lock-downs, travel restrictions etc. have been imposed the governments. Passenger transportation by sea was affected as well. As a result of all these the demand for ships and in turn for new buildings was dipped. Some of the shipyards got into trouble completing their ongoing projects due to financial difficulties even bankrupted. This paper deals with the problems that were surfaced during pandemic in maritime industry and for possible remedies to get out of it. Along with the global review of the impact of the pandemic, the effects on Turkish shipbuilding was also taken into consideration. © 2023 the Author(s).