Covid19 Eclipse Y2K20

 

2020 was a landmark year when IMO, in order to  acknowledge and  contribute to restrain the  growing  global environmental threat, enforced a new lower  0.5%  global Sulphur cap on bunkers.

However,  the Maritime fraternity’s great sacrifice to adopt to higher fuel standards in order to  cut down toxicity from the face of the earth was smeared by greater toxicity this year.  

The Toxicity came in the form of a novel virus, the Covid19. Believed to have been originated in Wuhan, China, the virus quickly spread around the world, forcing nation after nations to go into lockdown,  grounding airlines, shutting down factories, offices and workplaces across the world. There was huge loss of businesses and employment. The world economy came down on its knees. Shipping  Seafarers suffered the shock as many were left stranded on ships. Printing money was seen as the last resort.

Staying negative was a big positive in the foregone year. Yet, we saw some positivity in this game changer year.  The IT sector, work from home, remote, robotic, online shopping, social media, health sector were among some of the opportunities in disaster last year.

The toxicity has been brewing not only in air but in human hearts too for the past few years. Rightist movement has been gaining momentum and people worldover are more polarized and divided than ever before on grounds of race, colour, religion, caste and nation. Free trade and environment have been a casualty of the constricted thought process. However, with Joe Biden replacing Capt. Trump, we may be seeing some of the blocked trade routes opening up in coming years and the environmental efforts be restored to RFA.  

Year 2021 is gonna be a fallout year of 2020. Now that the vaccines have been rolled out, the effect is to be seen. A lot of liquidity was pumped in the financial markets last year, which will need to be mopped out gradually. The stock markets are at all time high. We will need to see a meaningful growth in world trade this year to sustain optimism in futures.

Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop questioning. – Albert Einstein.