Written by admin on February 4, 2009 – 1:53 pm
Over two-thirds of Lloyd’s List readers believe that the credit crunch will threaten the improvements seen in shipping safety in recent years, according to our poll.
Faced with a straight yes-no choice, the proposition is favoured by 71%, with 29% against.
The findings come after marine insurers have voiced fears about a flight from quality, as the economic downturn puts pressure on shipping company bottom lines. Shipping veterans argue that this would tally with the experience of previous recessions, where corners have been cut on maintenance and crewing levels.
There are also concerns about the quality of the newbuildings being delivered by some Chinese yards and the shortage of suitably-qualified officers, especially in deck grades.
source: Lloyd’s List
