Seafarers are frontliners too

Seafarers are frontliners too
29/04/2020 https://www.hellenicshippingnews.com/seafarers-are-frontliners-too/

During these trying times under the movement control order (MCO) imposed to combat the Covid-19 threat, healthcare workers and those ensuring adherence to the MCO have been recognised as “frontliners” for the yeomen deeds they perform.

Most Malaysians accept this, and many do what they can to help facilitate the availability of personal protective equipment and meals that the frontliners need.

Syabas and well done!

I wish to highlight the existence of another group of frontliners that many Malaysians may be unaware of: Seafarers who serve on board merchant vessels carrying food, fuel and facilities that we all need to survive in these testing circumstances and even during normal days. They serve away from their families in an environment open to the vagaries of weather and seas, day in and day out, and they do so professionally so you and I will have our supply of daily necessities and items of additional comfort.

Initially, during the first few days of the MCO period, these seafarers were unable to leave their vessels at the end of their contractual duration of service nor were fresh crew allowed to replace them. This was due in large part to the lack of a standard operating procedure (SOP) addressing the situation.

Two critical issues loomed: Those seafarers on board and due to leave the vessel, a procedure termed “signing off”, were under severe mental stress, worried about how their families at home were coping with life under the MCO. The other group ashore planning to join ships, termed “signing on”, had exhausted their funds and needed to commence earning a wage to sustain their families. Unless they can sign on, they have virtually nil income, since employment for most seafarers infers they only get paid while serving on board a ship and not when they are ashore on leave.

Desperate appeals were made by shipowners’ associations, seafarers’ organisations and concerned individuals pleading with relevant authorities to consider drafting SOPs that would allow these unrecognised frontliners to be taken off ships and replaced by waiting crew.

Much to the credit of the ministries and agencies involved, a set of procedures was crafted within a few days to enable such movements.

With the circulation of procedures by the Marine Department Malaysia explaining how the signing off and signing on procedures need to be undertaken, seafarers heaved a sigh of relief.

Though there appeared to be some snags in some locations in the early stages, especially in Sabah, Sarawak and Labuan, matters appear to be smoother now.

I would like to take this opportunity to express my appreciation to the National Security Council, Transport Ministry, Marine Department, Immigration Department and, of course, the Health Ministry, as well as ship owners and other entities for being willing to go out of their way to assist in ameliorating the issue.

It is not often that these normally unrecognised seafarers are given the recognition they truly deserve based on the enormous contribution they make towards ensuring the supply of goods for the well being of fellow Malaysians in general. They are frontliners too.
Source: The Star

Engineer ABB’s results beat expectations as it warns of COVID-19 hit to come
Engineering company ABB (ABBN.S) reported first-quarter results that exceeded market expectations on Tuesday, including an increase in orders, buoying its shares even as it warned COVID-19 lockdowns would hit its business in the months ahead.

The maker of industrial robots, drives and software said it expected the coronavirus pandemic to trigger a “sharp drop” in demand over the next three months as measures introduced to curb the outbreak disrupted business activity around the world.

The Swiss company, like many others, is being affected by the economic downturn as customers shut their factories and plunging oil prices batter demand in the energy sector.

“In the second quarter, we expect ABB’s operations to be significantly challenged by a sharp drop in demand due to lockdowns in many parts of the world,” Chief Executive Bjorn Rosengren said.

ABB said the COVID-19 crisis had lowered revenues and profit margins in all its businesses during the first quarter. Revenues fell 9% to $6.22 billion, while net income fell 30% to $376 million – though both ahead of market expectations.

Deutsche Bank said the results were “better than feared”. Orders, for example, increased by 1% on a comparable basis, when most analysts had expected a drop of around 7%.

ABB’s shares rose 3.7% in early trading, the biggest gainer among Swiss blue-chips.

POWER GRIDS SALE ON TRACK
“Q1 delivered a solid result with beat on orders, sales and margin,” said Barclays analyst Shane McKenna, adding that cost-cutting had led to net savings of over $100 million.

Other analysts highlighted ABB’s progress in separating its Power Grids business, ahead of the division’s sale to Japan’s Hitachi (6501.T). The sale is still on track to be completed by the end of June, ABB said.

The company said it has eliminated most of the $290 million in so-called stranded costs in the business and would still return the proceeds from the deal, which valued Power Grids at $11 billion, to investors via a share buyback.

“The reiteration of the expectation for the sale of Power Grids to complete at the end of Q2’20, and the reiterated intention to return the net proceeds through a share buy-back should be well received,” said Martin Wilkie at Citi.

ABB warned the coming months would be difficult, however.

Despite initial signs of a recovering economic captivity in China, many countries including the United States – its biggest market – faced restrictions, according to ABB.

The company said most of its production facilities were fully or partly operational, although it was seeing disruption at production and service sites in some countries.
Source: Reuters (Reporting by John Revill; Editing by Michael Shields and Pravin Char)