SCA to move its vessel registration home to Sweden

Read so far

SCA to move its vessel registration home to Sweden

January 20, 2020 - 13:02
Posted in:
As a result of the new Swedish tonnage tax system, the SCA Group has been moving its vessel registration home to Sweden.

At the turn of the year, a new company, SCA Shipping AB, was formed. “Gathering our entire shipping business is a more logical solution“, says Per-Anders Westin, Finance Manager SCA Logistics.

SCA’s shipping operations have been located on the Isle of Man for a number of years; however, some 10 Swedish companies, among them SCA, have applied to the Swedish Tax Agency to move their shipping businesses back home from 1 January. This is the result of a change to taxation regulations for vessel ownership.

“Thanks to the tonnage tax, more shipping companies will be registering here in Sweden instead of abroad,” says Per-Anders.

This change will not result in price rises for customers. In conjunction with this, there will be changes to what are known as Liner Terms and Conditions; however, this will not result in any changes to either administration or the cost to our customers. The tonnage tax system will make it easier to develop maritime-related businesses in Sweden. “This is positive for Sweden and for the shipping community“, concludes Per-Anders.

The new Shipping company refers to ist own RoRo vessels m/v SCA Ortviken, m/v SCA Obbola and m/v SCA Östrand. The chartered container vessels m/v SCA Munksund and m/v SCA Tunadal will not be a part of the new company. From an employment point of view, the shipping company will not have employees on the vessels. There have also been some adjustments for the systems relating to finance, invoicing and transport. All of these were prepared to work in the new shipping company from January 1, 2020.