The General Manager of Evergreen said: “ The outbreak of COVID-19 in the first half of 2020 caused several countries to block borders and suspend operations in factories, disrupting the original tranquility of the supply chain, and therefore resulted in the global crisis of shortage of cabins and soaring freight rates.” It is believed that the growth of demand will continue to upsurge steadily, and the prospect of the industry is promising.
The capacity of Evergreen is estimated to increase by 18%
With the accelerating vaccine delivery, the global economy is expected to recover from epidemic recession. According to the World Economic Outlook (WEO) released by the International Monetary Fund (IMF), the global economic growth rate is estimated to be 6.0% in 2021 and 4.4% in 2022. Evergreen will deliver 33 new container ships, an increase of more than 260,000 TEU, which creates an 18% increase in shipping capacity this year.
Invest in green technology to enhance competitiveness
More and more multinational companies require the products provided by their suppliers to meet the regulations of carbon emission reduction and energy efficiency, and freight logistics is also a key element of the supply chain, according to the analysis from KPMG. Evergreen has invested in the development of the “Green” fleet in 2003, and will continue to introduce novel technologies to create a highly efficient fleet, which not only protects the environment from contamination, but also reduces the operating costs in the long term.
Adjust operating strategy to adapt to epidemic crisis
In the second half of 2020, with the loosening monetary policies and increasing demand for necessities, the global economy began to recover, bringing about the drastic upsurge of demand for cabins and freight rates. Facing the soaring market demand and the shortage of cabins, Evergreen quickly added 152,000 TEU to alleviate the pressure of shortage resulting from the epidemic crisis.
Looking at the global shipping market, the pandemic recurs everywhere, and the port congestion is not eased yet, which causes profound damage to the supply chain. The answer to the epidemic crisis is still a question mark. What should we think about the industry in the second half of 2021? Feel free to share them via Facebook or Linkedin! We’d love to hear from you!! Also you may refer to the article!!