As a result of the new Swedish tonnage tax system, the SCA Group will be moving its vessel registration home to Sweden. At the turn of the year, a new company, SCA Shipping AB, will be formed.
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.
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 its customers. The tonnage tax system will make it easier to develop maritime-related businesses in Sweden.
The new Shipping company refers to its 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.
The core of SCA’s business is the forest, Europe’s largest private forest holding.
