ShippingWatch

Here is what Sweden has lost on missing tonnage tax

The Swedish shipping industry could have been 10-20% bigger than at present, creating significant revenue and jobs for the country, if it had implemented a favorable tonnage tax.

Photo: Stena Line

Swedish carriers are thoroughly fed up with the lack of a tonnage tax system in a country where the shipping sector has slowly been unraveling in recent years. A recent analysis conducted on behalf of the Swedish Shipowners’ Association, Sveriges Redareförening, shows that a tonnage tax would have made the Swedish fleet significantly bigger than the present one, which has shrunk to less than 100 vessels.

The analysis shows that the Swedish fleet grew by 48% from 2005 to 2012. In comparison, the collective fleet of the EU countries grew by an average of 61% during that period.

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