ShippingWatch

Shipping companies drawn to Luxembourg

An increasing number of shipping companies are settling down in Luxemburg. The Director of the Luxembourg Maritime Cluster, Paul Marceul, tells ShippingWatch how the country has managed to attract companies such as Subsea7, d'Amico and Stena.

It seems unnatural. Luxembourg has no coastline as the tiny European country finds itself squeezed in between France, Germany and Belgium. The country is primarily known for its beneficial corporate tax conditions, not for its blossoming shipping industry. Yet the country is attracting a growing number of service companies in - and suppliers to - the maritime sphere and for carriers.

The explanation behind this development lies in the country’s active efforts to create beneficial conditions for maritime businesses. The first P&I Clubs began to settle in Luxembourg in the 1970s, the country established a ship register in 1990, and since 2008 the organization Luxembourg Maritime Cluster has been working to attract players in the marine industries.

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