EMEA News
Singapore, United Kingdom, UAE Looking to Benefit as Tsipras Win Puts Pressure on Greek Shipping
Singapore, the United Kingdom, and the United Arab Emirates are amongst several nations said to be courting Greek shipping companies after a newly elected Greek coalition government led by Prime Minister Alexis Tsipras has put the industry on alert for new taxes, Seatrade Maritime reports.
Jean-Claude Juncker, President of the European Commission, which leads the group of Greece's creditors, says the country's shipping industry "should contribute more" and has suggested an increase in tonnage tax and special tax treatments for shipping to be phased out.
As a result, shipping companies are said to be "stepping-up" their interest in moving their business bases from Greece to alternative locations, with many already said to have paper-based businesses in Cyprus.
However International administrations, including Cyprus, Singapore, theUnited Kingdom, the United Arab Emirates, Canada, and the Bahamas, are said to be coming to Greece to showcase what they have to offer as maritime centres.
In July, it was reported that A.P. Moeller-Maersk A/S was lining up to buy Greece's two largest ports after it was announced that the debt-riddled country was renewing a push to sell its majority stakes as part of bailout negotiations.
