MARITIME | December 7, 2020
| Editors' picks | MARITIME | 12.07.2020 |
1/ Container shipping equities: what is the current state of affairs?
Drewry | HellenicShippingNews.com | December 7, 2020
2/ European lines apply new rates in Europe and Med
Container-News.com | December 7, 2020
3/ Italian Ports Must Pay Corporate Taxes Starting in 2022 EC Rules
Maritime-Executive.com | December 4, 2020
Sam Chambers | Splash247.com | December 7, 2020
5/ MSC linked to Borealis boxship pair
Grant Rowles | Splash247.com | December 7, 2020
Excerpts:
Since the beginning of November, stock markets across the globe have rallied after the apparent Biden win, and yet again after the vaccine announcements by Pfizer-BioNtech, Moderna and AstraZeneca-Oxford University. Nonetheless, in our view, a vaccine will be available next year, not next week, and needs to be transported and supplied globally to have any positive effect.
With the US elections recently concluded, we had a very interesting trading experience in the markets mainly because of vaccine enthusiasm combined with post-election volatility reduction which led to a massive gain in container shipping stocks. The average share price return of the 12 selected liner operators on YTD basis was more than +70%. The Drewry liner equity index has registered a cumulative gain of 16% since the beginning of November until 16 November which speaks volume about the market sentiment.
Container shipping equities: what is the current state of affairs?
Drewry | HellenicShippingNews.com | December 7, 2020
Major ocean carriers have announced new charges in Europe and the Mediterranean from mid-December and the beginning of the new year.
French shipping line CMA CGM will implement new freight of all kinds (FAK) rates from North Europe and Mediterranean to Kenya, Tanzania, Australia, New Zealand and Indian Subcontinent, effective from 1 January.
European lines apply new rates in Europe and Med
Container-News.com | December 7, 2020
The European Commission ordered Italy to abolish the corporate tax exemptions granted to its ports. Profits earned by port authorities from economic activities must be taxed the antitrust regulators said under normal national corporate tax laws to avoid distortions of competition.
Today's decision resulted from inquiries the EC conducted into the taxation of ports across EU member states. The commissions said that these steps would align Italy’s tax regime with EU State aid rules. Currently, in Italy, port authorities are fully exempt from corporate income tax.
"EU competition rules recognize the relevance of ports for economic growth and regional development, allowing Member States to invest in them,” said Commissioner Margrethe Vestager, who is in charge of competition policy. “At the same time, to preserve competition, the Commission needs to ensure that, if port authorities generate profits from economic activities, they are taxed in the same way as other companies.
Italian Ports Must Pay Corporate Taxes Starting in 2022 EC Rules
Maritime-Executive.com | December 4, 2020
The car carrier sector has staged a more swift recovery than initially projected in the early stages of the pandemic, but still remains under pressure for the coming 12 months, according to new research from Clarksons Research.
Data from the UK shipbroker shows car carriers have been getting busier since their nadir was hit in May this year, during the period when much of the world was in a first lockdown from the pandemic.
Clarksons Research is projecting seaborne car trade to fall by 21% this year, a smaller decline than the 34% drop registered in 2009 in the wake of global financial crisis.
Sam Chambers | Splash247.com | December 7, 2020
Swiss-headquartered containerline Mediterranean Shipping Company (MSC) continues to build its fleet at rapid pace according to the latest Shipping Intelligence Weekly by Clarksons Research.
Clarksons is reporting that MSC has snapped up the 2006-built 2,732 teu boxship pair Telemann and Bomar Spring from Borealis Maritime, paying a total of $15m.
MSC linked to Borealis boxship pair
Grant Rowles | Splash247.com | December 7, 2020