According to Claes Berglund, ECSA´s President, the European shipping has reached a breaking point. In fact, on the surface, trade continues to flow but below the surface, crews are being challenged enormously.
Furthermore, financing really needs to be kept open for shipping companies in order for them to cope with immediate liquidity problems to avoid redundancies, to help refinance their loans, or have the possibility to suspend their loan installments and interest, and in parallel extend the term of their loans. Without the authorities and banks stepping in on this, many companies will not survive the crisis and Europe’s share of global shipping is going to plunge.
...ECSA´s President, Claes Berglund continued.
In light of the coronavirus situation, ECSA Board highlighted the need of specific actions in order to really sustain the industry through this crisis and help it to recover as soon as possible.
Moreover, ECSA Board thanked all maritime professionals across the global shipping community for their dedication and sacrifices that have made so as to continue the supply of goods and equipment and the necessary transport services to millions of citizens currently affected by the COVID-19 pandemic.
Additionally, ECSA infomed that will continue collaborating closely with its social partner, the ETF in seeking Member States’ support to adopting a common, coordinated approach, so that rules and requirements are the same for all companies and the workers are afforded the necessary protections.
ECSA considers that this unprecedented crisis requires unprecedented reactions. For Europe to ensure the survival of its strategically important maritime industry, more concerted and targeted actions will be required. It therefore calls on all the European institutions to swiftly adopt a targeted rescue and recovery plan for the maritime sector.
... ECSA Board concluded.