Swedish shipowners are hoping a government inquiry into its tonnage tax could end up boosting the country’s flagging industry.

Only about 100 deepsea vessels fly the Swedish flag. A study outlining ways to improve the tax system is due from the Swedish Transport Agency by the end of the year.

“It’s imperative that we get some changes to the tonnage tax regime to make it more competitive towards what we find in neighbouring countries, like Denmark or Norway or even the Netherlands,” Swedish Shipowners’ Association chief executive Anders Hermansson told TradeWinds.