PTC CEO Gerardo Borromeo Conveys Optimism for the Shipping Industry in the Face of the COVID-19 Pandemic The Philippines is acknowledged as the prime source of competent and certified maritime professionals who move the industry and contribute significantly to the country’s annual remittance. The state of the shipping industry holds far-reaching effects on our country’s economy. “The cruise industry is a resilient industry, and it is, in fact, going to come back. Already today there are plans for cruises to begin again at the end of this year into the first quarter of next year. We may have hit a speed bump, but the industry will remain alive,” he said.
global supply chain. “Without the merchant vessels, world trade would not be possible,” explains Borromeo. “They do all of the heavy lifting. And as a country, we can be proud of the fact that Filipinos contribute a significant portion to the working positions onboard a ship. Without Filipinos, these ships won’t be able to sail.” To further illustrate the importance of Filipinos in the industry, Borromeo paints a picture of an alternate scenario in which, if for some reason Filipinos suddenly decide not to sail, the merchant fleet will be severely affected, and world trade will virtually be put to a halt. “Just imagine, one VLCC (Very Large Crude Carrier) goes through the West Philippine Sea towards Japan, China, and Korea every hour. If these ships stop because no one would man them, imagine what would happen to the whole energy platform of those countries. Imagine the effect that this will have on manufacturing and other industries. So, while the Philippines may not be a tonnage provider, we are most definitely tonnage enablers.”
“As for the cargo sector, it continues to operate despite the perceived slowdown of trade,” he adds. “While about 10-12% of container vessels, which make up a big part of global trade, is idle at any given time, this does not necessarily mean a lack of business. Some are just in ports and yards being retrofitted and prepared for the next phase of their voyage. Most ships still continue to operate which is reflective of the industry’s resiliency despite the pandemic we are facing.” This resilience is thanks in huge part to the 300,000 Filipinos who make up about 25% of all the maritime professionals on board cargo ships, serving as the backbone of the Volume 16 Issue 4 | September 2020
1
