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Shipowners brace for Panama Papers backlash

More details from the so called Panama Papers are expected to be revealed today. The leaks from Panamanian law firm Mossack Fonseca show how tycoons, politicians and conglomerates around the world have managed to avoid paying taxes by using tax havens and complex financial structures.

Today, the International Consortium of Investigative Journalists (ICIJ) is expected to list individuals and companies mentioned in the leaked documents, which will involve a raft of shipowners.

Norway’s Aftenposten newspaper reckons the leaked papers list at least nine Norwegian shipowners who have set up companies in tax havens overseas. These include Wilson owner Kristian Eidesvik, Fred. Olsen, the Hoegh family, the Lorentzen family and the Jebsen family.

Splash will be providing full details of shipping’s exposure in the latest batch of Panama Papers throughout the day.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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