COVID-19 Reinforces Global Needs for Shipping Agents

OlufisayoOctober 27, 202001,302 views

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Coronavirus has impacted the world and businesses in a multitude of ways. As the economy rebounds and global trade returns full force, Inchcape analysts reported a 20% decrease in April and May due to the peak of the virus outbreak as shipping agents worked remotely while adapting to the changes due to port lockdowns and restrictions.

Inchcape, having established a reliable IT infrastructure years before the COVID-19 outbreak, teams have handled the ups and downs brought by this year with careful calculation. As one of the leaders in port agency and shipping agent services, Inchcape maintains stability and effectiveness through these times of change and continues with future expansion plans.

Inchcape CEO Frank Olsen, reports that Inchcape analysts predicted a 5-7% reduction in seaborne trade for 2020. Since 80% of the global ports are localized, small, and more so affected by the Coronavirus restrictions, shipping agents were able to provide their services remotely. Inchcape holds about a 5% share in worldwide shipping agency which leaves plenty of opportunity for business growth within the realm of numerous minor seaports.

The global need for localized knowledge and logistics has presented a strong necessity for reliable shipping agents. Charters, ship owners, and operators rely on the expertise shipping agents provide more than ever now with the complications brought by the Coronavirus.

Wrapping up 2020, Inchcape continues to push forth bringing timely services to 2500 ports worldwide. With 240 office locations and a staff of 3,000, Inchcape Shipping Services covers everything from survey inspections and immigration paperwork and documentation to financial management and crew logistics.

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