As COVID-19 has become a global pandemic, borders are closed, and most of the flights are grounded for an uncertain period. The aviation industry is feeling the pinch, and is gearing up for a nightmare situation worse than what followed the 9/11 terror attacks.
However, because of the plummeting demand during the Covid-19 (corornavirus) crisis and a surge in production of crude oil, owing to the differences between OPEC and Russia, there is a glut of crude oil in the market, and the shipping industry is reaping benefits arising out of this new opportunity. How is this happening?
We spoke to Sameer C. Mohindru to understand this situation. Sameer is a Senior Editor with S&P Global Platts, Singapore covering the tanker shipping markets for the last six years. He has also edited two books of essays on India’s socio-economy; the latest, “India’s Next Leap Forward”, was launched last year in Singapore. He has almost two decades of experience covering a wide range of commodities across Asia-Pacific. Prior to joining Platts, Sameer was a reporter with the Dow Jones Newswires and the Wall Street Journal covering all major agricultural commodities in the region.