European shipowners are cutting down investments in decarbonisation and fleet renewal amid job and financial losses during the coronavirus pandemic, according to an industry survey.
The survey by European Community Shipowners’ Associations (ECSA) paints a gloomy outlook of shipping investments due to a slow recovery forecast.
“In general, the European shipping industry does not expect a return to pre-crisis level of activity in the course of 2020,” the ECSA said.
