Tor Shipping offers one-stop comprehensive shipping services. The company operates domestically and internationally focusing on three inter-related areas: FAS, ship management, and port agency.
Tor Shipping’s office is located in Tórshavn, the capital of Faroe Islands, overlooking the harbour.
The Faroese International Ship Register (FAS)
The Faroese International Ship Register, FAS, has proven to be an excellent alternative to other similar international registers. FAS offers less bureaucracy, a simple registration process, and many favourable terms and conditions e.g.:
• Shipping companies which have ships registered in FAS, enjoy an 18% taxation rate.
• The personal tax rate on seamen’s wages is 35% of gross wages.
• Owners of ships registered in FAS recieve a 100% refund on taxes paid
• Ships can be registered or bareboat chartered under FAS.
• A favourable Tonnage Tax System.
Tor Shipping manages administrative details for owners of ships registered in FAS. Currently, Tor Shipping represents and manages tankers, coasters, dredgers, and offshore vessels for ship owners, who have taken advantage of the many benefits of FAS.
Tor Shipping offers full-scale or partial ship management services, flexibly responding to the needs of our clients. There are no restrictions as to type or function of vessels that we manage.
Faroe Islands Port Agency
Tor Shipping operates as port agent for all types of vessels calling Faroese ports. We provide all port agency services and have many years experience. Tor Shipping has had the pleasure of welcoming and assisting cruise ships, oil tankers etc. during their visits to the Faroe Islands.