What decisions did the General Assembly of the Union of Greek Shipowners take?

Her Anastasia Cotton

At the extraordinary General Assembly of the Union of Greek Shipowners, two were the dominant topics: the signing of amendments to the Voluntary Offer Memorandum of Greek shipping with new conditions and the developments surrounding the Competition Commission

According to information, the general assembly of the Union authorized the President Melina Traulou in a percentage higher than 85% of the total tonnage of the Greek-owned fleet, to sign the modifications of the co-pledge of the voluntary offer of the shipping community that is valid from 2019. The last co-pledge was signed by Theodoros Beniamis for an indefinite period of time.

“This decision proves once again the responsibility and unity of our sector, as well as our strong will to continue our active presence in our country” he said at the General Assembly of the EEE

The amendments provide for the increase of the minimum total annual amount of the New Voluntary Provision, from 40 million to 60 million per year and the reduction of taxation for dividends from shipping activities imported into Greece, from 10% to 5%.

A similar provision also applies to profits from the sale of shares of ship-owning companies or holding companies, which are imported into Greece.

The new regulation will integrate the income of natural persons from the sale of shares of ship-owning companies or portfolio companies of ship-owning companies imported into Greece with the corresponding application of the provision for the tax treatment of dividend income, following the rate of 5%.

According to the new co-promissory note if those represented by Ms. Travlou represent a percentage of capacity over 66% of the total, then the commitment resulting from the amendments to the co-contractor will be extended to the remaining members of the shipping community, i.e. to approximately 15%, which has not yet given its representation, as it appears from EEE general assembly.

Finally, the Additional Act may have retroactive effect from the beginning of the year, i.e. from 01/01/2022.

As far as the EU Competition Commission is concerned – something for which Mrs. Traulou had clarified in Posidonia that Greek Shipping is not under any control regime – the members of the Union were informed in detail about the new round of consultations between the Greek government and of the services of the General Directorate of Competition of the European Commission, for additional explanations as it was done.