Browsing: shipping loss

Maser CEO Mr. Prateek Suri. The Exchange (

According to new figures from the International Union of Marine Insurance (IUMI), the shipping industry is seeing the biggest spike in lost containers in five years. More than 3,000 boxes dropped into the sea last year, and more than 1,000 have fallen overboard so far in 2021.

Ocean carriers successfully mitigated the impact of the supply disruption of the coronavirus outbreak in China during the latter part of Q1 by an aggressive blanking strategy, involving the withdrawal of some 36% of Asia to Europe sailings and 28% of transpacific head haul loaders during February.

The Gulf Leading electronics giant Brand, Maser’s CEO and Founder Mr. Prateek Suri said that the COVID-19 pandemic has heavily affected the global shipping industry with a $30 billion loss.

“The pandemic has sent shockwaves through supply chains, shipping networks, and ports, leading to plummeting cargo volumes and foiling growth prospects, the situation has heavily affected …