Sweden: Re-flagging continue despite new tonnage tax system

06.03.2017

Sweden: Re-flagging continue despite new tonnage tax system
Dagens Industri, 06 Mar 2017, online:-
Swedish shipping companies continue to re-flag vessels despite a new tonnage tax system effective 1 January 2017 which was expected to even out differences to maritime nations within the EU and increase profitability and jobs. The Swedish merchant fleet has decreased by 60% since 2001 with only 92 Swedish flagged vessels receiving shipping subsidy remaining. The Swedish flag is not competitive enough, according to CEO Erik Hånell at Swedish tanker operator Stena Bulk. Stena Bulk is currently undergoing an extensive new-building programme, but intends to not use the Swedish flag.
©M-Brain
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