ShippingWatch

European nations give state aid to shipping without knowing the price

Germany, Norway and Denmark do things very differently when reporting how much their state subsidies for shipping cost in terms of tax revenue forgone, show figures from the EU Commission.

Photo: Michael Kooren/Reuters/Ritzau Scanpix

Even though the shipping industry this year is earning enough money for both container and dry bulk carriers to report record earnings one after the other, European countries look set to maintain their current state subsidies for shipping.

Europe's state aid for shipping is so generous that the European Commission has special guidelines in place for it, but tax authorities in many countries are still only able to provide an estimate of the extent of their tax cuts for shipping companies.

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