Today marks an historic occasion for the Australian Shipping
Industry with the successful passing of the Shipping Reform Bills
through the House of Representatives.
All five Bills before Parliament were passed including the
Shipping Registration Amendment (Australian International Shipping
Register) Bill and the Tax Laws Amendment (Shipping Reforms) Bill,
which together will establish an international register, and
help to launch more Australian ships into international trade.
"The introduction of the Australian International Shipping
Register is a major development for Australia. Currently,
Australian ships carry less than 0.5% of our export cargos" said
Teresa Lloyd, Executive Director of the Australian Shipowners
"Combined with the Tax Laws Amendment, the opportunity to
compete with foreign flagged ships in these trades is now possible.
This is a very positive development for the future of this
Australian industry' she said.
The Coastal Trading (Revitalising Australian Shipping) and the
Shipping Reform (Tax Incentives) Bills were also passed today.
"The Coastal Trading Bill essentially codifies current practice
and importantly increases transparency. The Shipping Reform (Tax
Incentives) Bill provides Australian companies a significant and
exciting opportunity to invest in new tonnage and potentially
expand existing operations." said Ms Lloyd.
"We congratulate Minister Albanese and the Gillard Government
for their commitment to the revitalisation of the shipping industry
and look forward to the passage of these Bills through the Senate"
Ms Lloyd said.