Q1 2020 PKP Cargo SA Earnings Call Transcript
(foreign language)
[Interpreted] So the restrictions that have been felt by the group and what the authorities have done in other countries has affected the economy of many companies, and this has contributed to the needs for transportation services and for logistics services. And this applies to domestic freight as well as international freight, so coronavirus has first led to troubles and tumult in the Chinese economy. Many areas were closed. And before COVID-19 hit Europe, we saw that there were -- the logistics were actually disrupted or distorted in terms of consumption goods as well as industrial goods, finished goods. And so this is one of the reasons for what happened with the containers in European ports, and this meant that intermodal transport actually fell in many different directions. And so basically this disruption led to difficulties in production in many factories, and in some cases there was a temporary suspension. And so this is one of the reasons why the market conditions in rail freight were down.
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