Covid-19 has caused massive disruption around the world. However, the maritime sector is no stranger to volatility — and we know that the market can and will recover.

Our industry is resilient and it will ultimately bounce back. But the road to recovery is going to be an arduous task, given the complexity of the challenges in an interconnected world.

About the New Normal series

After a year like no other, TradeWinds asked 40 shipping industry stakeholders what they see for 2021 after a year beset by the coronavirus, and how the pandemic will shape shipping's future.

Read the full report here.

Remedial actions are already helping. Now is the time, more than ever, for our industry to think, plan and to act strategically with a long-term vision — ensuring the sustainability of our business as the top priority.

Adnoc Logistics & Services (Adnoc L&S) is always exploring ways to grow its business and streamline operations.

This year has been one of both reflection and action, as we also maintained business continuity while facing Covid-19 and ensured security or supply with our 200 chartered and owned vessels.

Throughout 2020, our focus has been not only to weather this downturn and overcome the challenges faced by our crews, but also to use the industry dynamics strategically, plan ahead and cater for future growth.

S&P splurge

Over the last 12 months, Adnoc L&S acquired 20 new vessels, including our first VLCCs, adding a total cargo capacity of over 1.8m tonnes.

Our expansion in the crude tanker market allows us to offer new services to our customers and supports Adnoc’s new growth in trading.

These acquisitions follow a recent order of five VLGC newbuildings for AW Shipping, Adnoc L&S and Wanhua Chemical Group's new joint venture.

Our continued focus on the strategic growth of our fleet is carefully aligned with the Adnoc Smart Growth Strategy 2030.

Looking ahead to 2021, the global shipping industry will undoubtedly play a critical role in economic recovery. Maritime trade is expected to return to a positive territory and expand by approximately 4.8% in 2021.

As we observe a rebound of trade, it is fundamental to also keep our focus on environmental targets. Energy-efficiency measures put in place by the IMO are legally binding across the entire global industry. We need to work together not only to meet these targets but also to act as a responsible industry and reduce our environmental impact.

Adnoc L&S has been at the forefront of adopting proactive measures, meeting the targets early with our entire commercial shipping fleet now running on low-sulphur fuel and our offshore fleet trialling biofuels.

There is a lot to look forward to — and I remain confident that our industry will navigate the long term on a positive trajectory.