Charterers

Exemption is given to:

• profits derived from the operation of chartered in ships
• interest income relating to the working capital of the company
• dividends received from the above profits at all distribution levels

The law grants the exemption provided that the option to register for Tonnage Tax is exercised for all vessels and provided a composition requirement is met: at least 25% (reduced to 10% under conditions) of the net tonnage of the vessels owned or bare boat chartered in.