Specials - ITJ | Transport Journal

48 Turkey and Greece Special International Transport Journal 35-36 2013Paying in instead of avoiding taxGreek shipowners digdeep for the stateThe Greek economy remains in the doldrums. Now Hellenic shippingfirms have proposed voluntary payments to the state coffers, in orderto make a contribution to the improvement of the country’s overallfinancial situation.The citizens of Greece have repeatedly subjected their country’s shippingcompanies to heavy criticism in the recent past. Even thoughthe Greek merchant shipping industry already enjoys many special taxbreaks in Greece – as is the case in several other European countriestoo – shipping firms often register their vessels under foreign flags.This allows shipowners to make additional tax savings. This has causedincreasing resentment against shipping companies from large parts ofthe population, which is suffering from the country’s sixth straight yearof recession. The government has made many drastic spending cuts asa result. It was with this background in mind that the Greek governmentamended a law in May, forcing those ships that do not sail underthe Greek flag to come pay higher levies (see ITJ 23-26/2013, page 17).Wherever you want...Greek shipowners havedecided to supportthe national economywith more thanis legallyexpected ofthem.Photo: ThinkstockButnowshipownershavedecided to provide thestate with more funds,with the Union of GreekShipowners announcingplans to give greater supportto the economy. Forthe next three years, 441shipping industry firms are setto make voluntary payments to statecoffers that exceed the legally prescribed levelsby up to 50%. Between them, these 441 entitiesmanage a fleet of 2,769 vessels, which representsmore than half of the Greek-controlled fleet largerthan 10,000 dwt. The government believes that it willnet EUR 75 million this year and EUR 140 million ineach of the next two years through the measure.Greek shipowners control approximately 15% of theworldwide merchant navy fleet, thus accounting formore than any other nationality in the market. Theyare frequently long on cash too. In the first six monthsof this year, Greek shipping lines have already investedmore than EUR 4 billion in orders for newbuildings.Since the German KG financing model ran into difficulties,they have not only been buying the proven bulkcarriers, but containerships too.avWork starts on Petkim’s newTurkish container terminalJoint Venture in derTürkei garantiert Know-how vor Ort!Profitieren Sie mit, von unseren wöchentlichen Komplett- Teil- undSammelladungsverkehren nach Istanbul, Ankara, Izmir und Bursa.Kompetenz die sich für Sie bezahlt macht.Transfreight AG,Leimgrubenweg 6, CH-4023 BaselTelefon: +41 (0)61 337 22 22Telefax: +41 (0)61 337 22 00Mail: info@transfreight.chwww.transfreight.chConstruction work on the Petkim Petrochemical Holding’snew container port in Nemrut Bay near Izmir (Turkey)started early this month. The first phase is due to becompleted by 2015, with the second scheduled for completiona year later. Petkim, a chemical products manufacturer,is a joint venture between Azerbaijan’s stateownedenergy corporation Socar and APM Terminals(APMT), a subsidiary of Denmark’s A.P. Moller-Maerskgroup. The partners will initially invest approximatelyEUR 300 million in the new port, which will then havean annual capacity of 1.5 million teu. This figure willsuccessively be expanded to 4 million teu. APMT willoperate the port for up to 28 years.Izmir is Turkey’s second-largest industrial city, and itspopulation of around 4 million people is growing fast.The Aegean Sea with its almost 10 million inhabitantsis also part of the port’s large catchment area. avwww.petkim.com.tr