German shipbuilders warn of collapse in ordering activity

MARITIME EXECUTIVE | The German Shipbuilding and Ocean Industries Association (VSM) has released a stark assessment of the challenges ahead for European shipyards in the COVID-19 era. The coronavirus pandemic not only creates short-term distortions, but is also raising "considerable uncertainties for medium-term development," the association warned. VSM predicts a complete halt to ordering activity in the cruise sector and a significant reduction in ordering for government vessels, the two mainstays of EU complex shipbuilding. 

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