Cruise & Maritime Voyages (CMV) has suspended all sailings for six weeks.
The line aims to restart operations on 24 April.
All CMV vessels will return to their disembarkation home ports in the UK and Germany for the repatriation of international passengers.
Chief executive Christian Verhounig said: “These are indeed challenging circumstances but rest assured, they will be overcome with fortitude and the minimum of disruption.”
All impacted passengers will be offered a full refund or a future cruise credit of 125% of the value of their cruise.
Passengers that opt to transfer will also receive a 20% discount against CMV’s Onboard Additions beverage packages, plus a 10% shore excursion discount and a one cabin category upgrade (subject to availability).
The future cruise credit can be used to purchase any cruise featured in CMV’s 2020 and 2021 programmes and must be booked by 31 July 2020.