Vehicle shipping firm Wallenius Wilhelmsen reported a 39.7% year over year drop in revenues in Q2 as the global automotive industry collapsed in the wake of COVID-19. The firm’s EBITDA margin dropped by 380 basis points compared to a year earlier after capacity reductions were insufficient to cut costs quickly enough. That marks a contrast to the container line sector which on average saw revenues drop by 12.7% but were more effective in reducing capacity industry-wide and so improved EBITDA margins by 7.4% points on average. Wallenius’ Wilhelmsen’s management has a ...