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Bird's eye view of cargo ship

Global shipping: mega profits, micro taxes

March 2025: Our latest report reveals how the world’s 10 biggest public shipping companies top all-time high profits of $300bn in five years – but pay less than half the average tax rate.

The report shows that the problem is biggest in the largest and most profitable companies. Nine of the top 10 companies are from high-income developed economies and four of those headquartered in wealthy OECD states.

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