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.
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In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.