PortandTerminal.com, March 17, 2020
GENOA, ITALY – Italy has the second-highest number of COVID19 cases in the world after China. As of today, there are 31,506 confirmed cases of the virus and 2,503. Italy, which has a population of 60 million people compared to 327 million in the US, has over 4 times the number of infections. The country is in complete lockdown.
As of today, all of Italy’s main ports remain fully operational. Paolo Emilio Signorini, President of the Western Ligurian Sea Port Authority, spoke today with a local news channel about the status at the ports and how they are coping with the crisis.
The following is a bullet-point summary of what Mr. Signorini had to say.
To date, the Ports of Genoa shipping community has been successful in its efforts to keep the Ports of Genova, Pra’, Savona and Vado Ligure open for business.
Forecasts for March and April indicate an overall sharp decline in trade, estimated at minus 20%.
Stevedoring operations are expected to decrease by approximately -30% and VAT by -20%, which reflects the 20% sharp reduction in imports/exports set to ripple across this coming year due to the coronavirus outbreak.
Mediterranean, MSC and Costa Cruises, which homeport in Genoa and Savona, have stopped all operations.
Ferry liners have suspended all ferry passenger services from the Ports of Genoa to Sardinia, Sicily, Spain and North Africa due to the public health emergency underway.
In financial terms, the repercussions on the economy are set to be extensive: for instance, the 3.5 billion euros generated by VAT on imports into the Ports of Genoa, Italy’s premier port, could result in a reduction of 1 billion euros for the Italian state in view of the expected 20-30% slowdown in trade.
Other articles you may find interesting
Copyright © 2020 PortandTerminal.com. All rights reserved. This material may not be published, broadcast, written or redistributed.