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Source: Politico
Source: On Top magazine
Despite using public ports, Coast Guard assistance, federal customs operations and tax-payer funded roads and bridges, Carnival uses a tax loophole that allows companies incorporated overseas to avoid U.S. taxes, even if the bulk of their operations are based in the states. The New York Times reports that between 2008 and 2011, 26 major corporations in the U.S. managed to pay no income tax, despite making $205 billion in pre-tax profits.
Carnival’s “cruise from hell” — during which the ship lost power off the Yucatan peninsula and was stuck for days, leaving passengers no recourse to relieving themselves in plastic bags — finally ended as the crippled boat was tugged into port.
Carnival will be refunding money to the passengers of the ill-fated cruise and offering them a free trip in the future. But one entity to which Carnival has not been giving any money is the national treasury — as the New York Times’ David Leonhardt reported, the company has paid just a 1.1 percent rate on 11.3 billion in profits over the last five years:
The Carnival Corporation wouldn’t have much of a business without help from various branches of the government. The United States...
Maersk reported the company had reached their target ‘largely from a combination of operational efficiency, network and voyage optimisation, slow steaming and technical innovation’ and that its Triple-E vessels ‘will be the largest and most energy efficient ships on the water.’
Maersk Line has reached its own 2020 target of reducing its fleet-wide CO2 emissions by 25% from its benchmark 2007 levels, the Danish shipper said recently.
“We are proud to hit this mark 8 years ahead of schedule. It is confirmation we’re on the right track. And to keep that momentum we’re raising the target to a 40% reduction in CO2 by 2020,” says Morten Engelstoft, Chief Operating Officer, Maersk Line.
It is estimated that shipping carries 90% of globally traded goods, contributing to approximately 3-4% of the global annual CO2 emissions.
More at gCaptain
Source: Equal Times
Source: AnnArbor.com
Source: Daily Caller
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