(MENAFN)
The German Shipowners' Association (VDR) released a survey on Tuesday saying that the Germany shipping companies saw a drop of 30 to 40 percent in their revenues in the months of March and April of the current year.
44 percent of shipping firms in the company saw substanital impairment of their liquidity at the same time, the survey conducted for 50 shipping firms, including almost all of the 30 largest shipping companies in the country, showed.
The VDR said that "the consequences of the coronavirus pandemic are becoming increasingly severe for the German maritime shipping sector".
President of the VDR, Alfred Hartmannm said that "cruise and ferry shipping were severely impacted by the pandemic right from the outset", adding that according to the survey, almost all areas of the industry segment were strongly affected by the coronavirus outbreak.
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