Strategic Intelligence for CFOs, Finance Directors, Controllers and Treasurers in Asia  | 
2012, Feb 09

Shipping Companies Worry About Proposed Environmental Tax

Home > News > Shipping Companies Worry About Proposed Environmental Tax
News

Shipping Companies Worry About Proposed Environmental Tax

by CFO Innovation Staff, 11 December 2009
topics:
Tax
tags:
climate change Copenhagen Conference oil tax
Thumbnail: 

Crippled already by the financial crunch, shipping companies are worried that the climate summit in Copenhagen will deliver another blow: a tax on the sulfuric low-grade oil that powers their ships, says the Wall Street Journal.

 

Citing shipping analysts and officials, the newspaper says that leaders at the summit are expected to assign the London-based International Maritime Organization, which runs the global register of shipping, to run the new levy. The goal is to compel shipping firms to shorten routes and find alternate energy sources. The tax, estimated at $10 billion a year, will likely be in place by 2012, says the Journal.

 

Meanwhile, shipping executives say that a tax isn't coming at an ideal time for the shipping industry. "We see a slow return to growth in 2010 but we're not very optimistic about the profitability of the sector," Nils Andersen, chief executive of A.P. Moller Maersk AS, told the Journal.

Original Article URL: 
Shippers Fear Environmental Tax
Orignal Author: 
CFO Innovation Staff
Quote Image: 
Original Article URL:

Related articles

Comment on this article

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <a> <p> <span> <div> <h1> <h2> <h3> <h4> <h5> <h6> <img> <img /> <map> <area> <hr> <br> <br /> <ul> <ol> <li> <dl> <dt> <dd> <table> <tr> <td> <em> <b> <u> <i> <strong> <font> <del> <ins> <sub> <sup> <quote> <blockquote> <pre> <address> <code> <cite> <embed> <object> <strike> <caption>
  • Lines and paragraphs break automatically.
  • Use <!--pagebreak--> to create page breaks.

More information about formatting options

Accounting and Regulations

CFO innovation Asia Accounting and Regulation the Asia Pacific resource center for senior finance executives, daily news, analysis, best practice and case studies in Accounting Regulation, IFRS, US GAAP, Tax, investor relations, corporate governance, Corporate Law, Financial Regulators, Internal Audit, Audit, Corporate Law.
Auditing, Investor Relations, Law and Compliance, Tax

Finance and Banking

CFO innovation Asia, Finance and Banking the Asia Pacific resource center for senior finance executives, daily news, analysis, best practice and case studies in Corporate Finance, trade finance, treasury and risk management, capital expenditure, Banking, mergers and acquisitions
Cash and Liquidity Management, Corporate Finance, Insurance, Treasury Management

Management

CFO innovation Asia the Asia Pacific resource center for senior finance executives, daily news, analysis, best practice and case studies in Finance Management, Corporate Governance, Human Resource Management, Compensation and Benefits, Mergers and Acquisitions, Professional Development, Corporate Real Estate, Risk Management, Budgeting and Forecasting, Business Process Management, Business Process Reengineering, Outsourcing.
Budgeting and Planning, Business Expense Management, Human Capital Management, Outsourcing and Shared Services, Risk Management

Metrics

Corporates, Financial Services

Technology

CFO innovation Asia Technology the Asia Pacific resource center for senior finance executives, daily news, analysis, best practice and case studies in Finance Systems, Business Intelligence, EPR, Accounting software, CRM, Cloud Computing, Telecommunications, Business Process Outsourcing, Business Process Management Software.
Business Intelligence, Enterprise Software and Systems, Financial Systems, Security