(2)The core activities of a tonnage tax company shall be-(i)its activities from operating qualifying ships; and(ii)other ship-related activities mentioned as under:-(A)shipping contracts in respect of-(i)earning from pooling arrangements;(ii)contracts of affreightment.Explanation. - For the purposes of this sub-clause,-(a)"pooling arrangement" means an agreement between two or more persons for providing services through a pool or operating one or more ships and sharing earnings or operating profits on the basis of mutually agreed terms;(b)"contract of affreightment" means a service contract under which a tonnage tax company agrees to transport a specified quantity of specified products at a specified rate, between designated loading and discharging ports over a specified period;(B)specific shipping trades, being-(i)on-board or on-shore activities of passenger ships comprising of fares and food and beverages consumed on board;(ii)slot charters, space charters, joint charters, feeder services, container box leasing of container shipping.
