New massive profits could bring container carriers into political tax storm

While high inflation and expensive energy are undermining the economy for consumers and companies in Europe, container liners are sailing towards new record profits this year. The crisis may lead to political claims regarding special taxation of shipping, according to expert.

Photo: PR / CMA CGM

For the second year in a row, container carriers are heading towards record profits, but in contrast to last year, the historic profits could this time hit the sector like a boomerang, says a shipping expert to ShippingWatch.

While carriers’ massive earnings are basically tax free, the rest of society is suffering from high inflation, energy crisis, and a looming recession.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Sea Cargo Charter hesitates to raise climate ambitions

The climate ambitions of the Sea Cargo Charter initiative have been criticized by several members, but it seems they still don’t stand to be raised, Chair Jan Dieleman tells ShippingWatch. For over a year, the initiative has considered raising the bar.

Further reading

Related articles

Latest news

See all jobs