02 April 2020
The Italian government is considering applying its ‘Cura Italia’ package of emergency measures to keep the country’s economy going to the shipping and port sector. Such measures would allow shipping companies and other transport operators to benefit from temporary suspension of withholding tax, social security and welfare payments. Port authorities will not be charging anchorage duties until 30 April and will receive government compensation for the lost revenue. State property fees that apply to port authorities and terminal operators will also be suspended until 31 July as well as payment of customs duties is postponed without interest. The Finnish National Emergency Supply Agency has reserved 45 million Euro to keep ferry cargo traffic going across three trade lanes, including Turku-Långnäs-Stockholm, Vaasa-Umea and Helsinki-Tallinn. The support will last three months and will be prolonged if necessary. In a statement, the British Ports Association (BPA) pointed last week at the financial and economic pressures on ports, including concerns about cash flow issues and the impact on the financial status of their customers, particularly ferry companies and other passenger focused activities such as cruises. Planned industrial slowdowns such as in automotive manufacturing could also be costly for the port and logistics industry. BPA Chief Executive Richard Ballantyne said that government support packages have been welcomed by ports. In cooperation with the UK government, the association will be keeping an information hub up to date with the latest government guidance and information.