The COVID-19 pandemic has affected the maritime industry in previously unthinkable ways. Ports around the world are denying entry to certain vessels, travel restrictions have postponed crew changes, ships are taken out of service and crew have been laid off. These operational problems are forcing some owners and operators to consider placing vessels in lay-up, notes Mr. Jarle Fosen, Senior Loss Prevention Executive, Arendal.
Owner’s decision
Once a vessel owner has decided to lay up a vessel,...