From 2005 to 2019, the effective tax rate was only 7 percent in the shipping industry. Alphaliner expects that maritime organizations will work to ensure that tonnage tax systems are not affected by the consequences of the G7 countries' new proposal for a global corporation tax of 15 percent.
The major bulk carriers listed in the US had a miserable first half of the year with a massive aggregate deficit, according to review by Alphabulk. The companies look set to lose over one billion US dollars in 2016.
Container and dry bulk carrier Navios finished the second quarter this year with a loss of USD 16.8 million. The restructuring with Hyundai Merchant Marine is now settled, and ship divestments are generating liquidity.
The dry bulk downturn hit Navios Maritime Holdings' result and revenue in 2015, which became "as difficult a market as ever existed in shipping", notes CEO. But the carrier sees positive developments ahead.
Investors are unloading tanker shares on a large scale, reports Deutsche Bank. Clarksons Platou notes that the recent share slides are headed by carriers such as Scorpio Tankers, Navios Maritime Acquisition, Teekay Tankers and American Shipping.