Mentioning that India is dependent on import of oil, gas and coal for meeting its energy requirements and further, with the country's energy requirement expected to grow manifold in the coming years, the President said, "the shipping industry
will need to play a pivotal role in achieving this mission.
Thomas Kazakos, was appointed Chairman of the ECSA Committee on State Aid to Maritime Transport, which monitors how the European Commission regulates the specialised taxation system of shipping companies in the European Union, known as "Tonnage Tax", based on which, for example in Cyprus, the Shipping Industry
contributes 7% of the national GDP.
It will also help us expand geographically by entering the Gulf region in order to respond to exceptional growth in the regional shipping industry
driven by the large scale import/export traffic in a highly populated region.
The number is not effective to support efforts to boost development of the national shipping industry
, Harijogi said, adding even the United States has only 10 port serving international shipping.
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The Shipping Industry
- Sailing through turbulent waters
On the basis of the tonnage taxation system, the Cypriot Shipping Industry
contributes 7 per cent to GDP.
A lawmaker is seeking the extension to another 10 years of the income tax exemption granted to the country's shipping enterprises to boost the growth, competitiveness and development of the local shipping industry
The luncheon, entitled the `Shipping Metropolis` of Germany, is considered very important as Germany has been the largest partner of the Cyprus shipping industry
The government was earlier expected to announce the presidential instruction (Inpres) on the empowerment of domestic shipping industry
before the presidential election in September, but until now there has been no sign that it is about to be out into effect soon.
11 /PRNewswire/ -- Reuters has launched Shipping 2000, a new international news, information and communications service for customers who require real-time contact with their counterparts in the shipping industry
What has dragged Chinese shipbuilding enterprises into the predicament is the sharp decline of the global shipping industry