Press Release: New rules on state aid to ship management companies

The European Commission provided new and detailed guidance on state aid granted to ship management companies on 10 June, 2009. These rules complemented the 2004 guidelines on state aid to maritime transport. Under the guidance the tonnage tax may be applied to all ship managers as long as they contribute to the development of the European maritime cluster and, more importantly, that they make a commitment to implement the Maritime Labour Convention 2006 ahead of its entry into force.