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Matheson sponsored 2nd Annual Marine Money Dublin Ship Finance and Investment Forum
PRACTICE AREA GROUP: Shipping
Matheson’s Shipping Law Group were delighted to sponsor the 2nd Annual Marine Money Dublin Ship Finance and Investment Forum held on the 11th of November 2008. Leading members of the shipping and financial investment sectors gathered in Ireland and listened to the views of leading expert economists on how the Irish economy would perform in the near future and also how global shipping markets would bear in the current economic climate in 2009.
The forum was opened by Mr. Noel Ahern, T.D., Minister of State, who outlined the development of the Irish shipping sector in the last 6 years. He commented that in 2008 alone, Irish indigenous companies and inward investors had invested over US$1 billion in new ships. The Minister confirmed that the Irish corporate tax regime, the lowest in Europe, which the Irish tonnage tax regime is based upon, would remain unchanged. Other speakers during the day included Fred Doll of Doll Shipping Consultancy who gave an up-to-date version of the shipping markets, Bank of Ireland’s senior economist, Michael Crowley who provided a very interesting insight on the state of the world economy and the Irish economy and Daryl Byrne and James Johnston of the Irish Stock Exchange who provided information on the Exchange and listing securitisations. After an enjoyable lunch, various representatives of the leading Irish shipping companies gave background profiles into their companies, their developments and their prognosis for 2009/2010.
The conference concluded with a panel discussion on the challenges facing Ireland as an emerging shipping centre.