Written question to the EC on the impact of the coronavirus on the shipping sector

The discussions on re-booting Europe’s economy, with the gradual lifting of the lockdown imposed owing to the COVID-19 crisis, must include the multiple negative effects on the shipping industry. Shipping is an integral part of the global supply chain and a catalyst for the commercial activity of most European countries. In addition, especially in times of crisis, shipping is absolutely essential for the supply of basic goods, energy and medicine both to citizens and to the vital industries of all Member States. The impact of the current crisis on the industry today is similar to that of World War II, and it is estimated that the recession in the shipping industry will last for at least a year.

Europe must maintain its strategic advantage in the shipping sector, ensuring its survival during the crisis and strengthening its long-term viability until the economy is fully restarted.

Given that, if the industry is to remain viable, liquidity must be maintained or even increased, will the Commission say:

  1. Does it intend to take legislative initiatives in order to maintain liquidity in the industry?
  2. What measures will be taken to ensure that the competent financial institutions comply with the relevant rules?
  3. Does it intend to include coordinated actions for the shipping industry in the exit strategy from the crisis?

Read the question here