Editorial of Ship&Offshore 8/2024: Changing course

The search for good news – in business, society or geopolitics – is often rather disillusioning. The catastrophic reports from war and crisis-hit regions weigh too heavily, concerns about deepening economic downturns are too great.

The search for good news is by no means a childish naivety; after months, even years of shattering and far-reaching incidents, it is more a need for normality and peace. Normality and peace, which are necessary to pursue efficient business, the important tasks. Acting instead of reacting; creating instead of fighting fires. At the time of writing, stock markets around the world have not fully recovered from a deep downturn. Concerns about the US economy, in particular, have reverberated around the world. Uncertainties have been magnified by regional conflicts, interruptions to supply chains, and the implications for the global economy as a whole. Political uncertainties come on top, making investors even more nervous.

Experts, however, speak of a course correction rather than a crash. Sharp rises on stock markets over the past few months have not always been underpinned by real economic development, they say. A recession is therefore unlikely, but the risks are increasing. The first positive reports of rising incoming orders, for example in German industry, allow us to breathe a tentative sigh of relief.

The past months and years have once again made us painfully aware that many things we have taken for granted are fragile and volatile. The maritime economy – with its series of vital global supply chains – has been dramatically affected, and there is little chance of an early resolution on this. The most obvious example is the conflict in the Middle East, which appears to be deepening, and has prevented normal route planning through the Red Sea for many months.

The maritime sector is remarkably resilient, however. The industry has always adapted, found solutions and continued to develop, both technologically and in terms of crewing, despite its sometimes somewhat unjustifiable dusty image. The upcoming SMM in Hamburg will once again bear witness to this. The global industry will be meeting in Hamburg for the 31st time to network, exchange ideas and, of course, present and explore new products and technologies.

Major topics will continue to be the increasingly urgent decarbonisation of shipping, combined with a sustainable increase in efficiency and a competitive positioning in the international markets. And as always, the show in Hamburg will also put further and emerging relevant topics such as artificial intelligence and the repair and retrofitting business in focus.

All in all, we are confident that this year’s SMM will – even in a time like this – prove that the industry is well positioned to weather current and future “storms” – despite the sometimes devastating conditions in the world.

Just like any other situation in life it shows that we may not be able to change the direction of the wind, but we can adjust the sails and alter our course in order to react to our environment.