Commercial marine sector

4 min read

Commercial marine

This is the latest weekly update from Santander’s commercial marine team on how the coronavirus pandemic is affecting our clients and the sector as a whole.

Commercial marine

Focus on opportunities in Brazil

Santander continues to work closely with our customers and partners across the commercial marine sector as they focus on the challenges of the coronavirus pandemic. On 22 April, we hosted a webinar focusing on opportunities for UK businesses in Brazil. It featured colleagues from the Department for International Trade, as well as British firm James Walker & Company and the Brazilian marine trade association SOBENA.

Joining us on the webinar were 35 businesses keen to hear about the potential of the Brazilian market and how Santander – both in the UK and in Brazil – is ideally placed to help them take advantage of these opportunities. A number of key trade events have been rescheduled for the second half of 2020 and we’ll be looking again at our trade activity for the rest of the year accordingly. To listen again to the webinar, click this link.

British Marine (BM) meanwhile has introduced a new weekly webinar for member businesses focusing on the impact of coronavirus. The trade body has also been in touch with its 460 members to build a picture of how the crisis has affected individual businesses to date. Firms can register for BM’s webinars here, while the organisation offers additional support and guidance through its microsite.

 

Manufacturing sector news

Industry body MakeUK has been working with colleagues in Europe, sharing intelligence on how lockdown policies around the continent have affected the manufacturing sector. The organisation will monitor closely the progress in countries such as Denmark and Austria which have started to lift restrictions.

Also last week, MakeUK’s CEO Stephen Phipson joined Santander’s Head of Manufacturing Paul Brooks on a podcast to share his thoughts on the current challenges facing the sector. Click here to listen again.

Stephen Phipson welcomed the government’s confirmation that the manufacturing sector should remain open during the lockdown period, but stressed that further state support was likely to be necessary over the weeks and months ahead.

The Chairman of one of India’s largest conglomerates has said that global manufacturers may need to reassess their supply chains in the wake of the coronavirus crisis. Anand Mahindra of the Mahindra Group said: ‘What people thought was a global supply chain was a Chinese supply chain,’ with the disruption caused by the pandemic only serving to highlight the importance of Chinese firms as a provider of inputs to factories across Asia and around the world. As a result, businesses are likely to move away from single-sourcing and build out their choice of suppliers, even if this results in higher costs and some loss of efficiency.

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