Profit bonanza: is it time to kill the shipping tonnage tax?

Container shipping lines have learned how to manage capacity, print billions, and pay single-digit tax rates — all under a regime designed to protect a fragmented, loss-making industry that has changed profoundly. Maersk’s Q3 interims released last week are the latest exhibit for the prosecution. Here is a number that deserves to be read twice. In the third quarter of 2026, AP Moller-Maersk booked profit before tax of about $3.2bn. Against ...

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