Svitzer's activities in the Faroe Islands are operated out of Sweden and the carrier must pay Swedish taxes, according to the Swedish Tax Agency. Svitzer confirms and states that the carrier is discussing the matter with the authorities.
The shipping business has been particularly noted for creating massive family fortunes around the world. The Maersk family occupies the 2nd place on Alphaliner's list of the 21 richest shipping families.
2017 showed the first signs of improvement in the struggling container market, according to a comparison of first quarter results from the major carriers carried out by SeaIntel. It also shows that Maersk Line has fallen behind several of its competitors on the earnings front.
Danish Maritime Forum has been given new life as the Global Maritime Forum, backed by prominent names such as A.P. Moeller-Maersk, Euronav, the Onassis Foundation, and PSA. "The maritime industry needs a shared platform to tackle collective challenges, " says Paddy Rodgers, CEO of Euronav.
Authorities are doing too little to enforce the rules regarding shipbreaking, says the chairman of the ESRA association of EU shipyards. He explains that ships often leave Europe without the necessary approvals.
Robert Bugbee, CEO of Maersk Tankers' top competitor Scorpio Tankers, has great expectations for the Maersk family after its acquisition of Maersk Tankers. "I expect to see the Maersk family as a driving and consolidating force," he tells ShippingWatch.