Major UK shipping interests band together against tax reforms

The Baltic Exchange, the Chamber of Shipping, Maritime London and the Joint Hull Committee, which represents the Lloyd's and International Underwriters' Association, have called on the British government to abandon proposed changes to the non-domiciled resident tax regime because they will undermine the country's GBP1.5 billion (US$2.9 billion) maritime services sector, reports Maritime Global Net.

Shipping interests believe that planned changes to the tax code will result in a flood of departures from the UK to overseas locations such as Singapore, Dubai, Athens, Copenhagen and New York.
The proposed legislation would increase the cost of international shipping companies' London operations by adversely changing the tax position of long-serving overseas staff as well as creating a considerable reporting burden on non-domiciled residents. The direct tax take from the proposed changes will be neutral or negative because most, if not all, non-domiciled shipping businesses will depart, he said, adding that the indirect damage to overseas earnings and other UK government income would also be substantial.

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Hapag-Lloyd revamps north Europe to Greece, Turkey service

Hapag-Lloyd has restructured its European Express Service (EEX) that calls at ports in north Europe, Greece and Turkey by doubling the number of weekly departures.

Both services, the EEX 1 and EEX 2, will be run in cooperation with MSC line, serving the ports of Izmir and Piraeus twice a week. The service will make port of calls in Istanbul, Thessaloniki and Gemlik once a week, a company statement said.
In north Europe, the ports of Felixstowe and Antwerp will be visited by both services, while the EEX 1 will call at Le Havre, and the EEX2 will serve Sines in Portugal.
From Antwerp and Le Havre, the ports of Bremerhaven, Hamburg and Liverpool will be served by a dedicated feeder service. All ships provide reefer plugs. Changes took full effect with sailings from Bremerhaven and Hamburg on February 11 and 12.

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Hyundai lands multi mega box ship order from European client

Hyundai Heavy Industries, has landed a US$1.35 billion deal to build eight containerships for an unidentified European company, though Lloyds List says the deal matches an order for eight 13,092-TEU ships from Muenchmeyer & Petersen (MPC), backed by a long-term charters by Hanjin Shipping.

Hyundai (HHI) said in a regulatory filling that the ships are scheduled for delivery by April 2012.
It said the South Korean shipbuilder's order book now stands at 330 very large containerships of more than 8,000 TEU in capacity for a total of 3.53 million TEU, according to AXS-Alphaliner records, 190 of the vessels are believed to be over 10,000 TEU.

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