Sunday, July 21, 2019

UK Launches Study to Improve Maritime Industry

December 2, 2014 by  
Filed under Port Services & Renewables

The United Kingdom’s Transport Minister John Hayes has launched a wide-ranging study that will look at how to boost the UK’s multi-billion pound maritime industry.

The work will look at all aspects of the sector to identify where and how improvements can be made to generate growth. The study will report in summer 2015 and is expected to make recommendations that could benefit areas including: ship financing, ownership and operation; maritime education, skills, research and technology; and the government administration of maritime activities, including ship registration and other policies.

The study will be chaired by Jeffrey Evans, a director at international shipbroker Clarksons and the chairman of Maritime UK, which brings together the voices of the shipping, ports and business service sectors.

Jeffrey Evans said: ”I am delighted to have been asked to chair this important study by the government. Britain is a world leader in maritime, but we face increasing competition from abroad. With world trade set to increase significantly over the next 20 years, it is crucial that we investigate what more can be done to grow this key national asset to secure jobs and economic benefits for the U.K.”

The maritime sector directly contributes up to around GBP 14 billion (USD 22bn) to the U.K. economy and directly supports the employment of up to around 260,000 people. Industry figures suggest the sector could be contributing up to around GBP 32 billion (USD 50.5bn) a year to the economy and supporting the employment of up to around 630,000 people when indirect effects are included.

The study has received a ”full and unequivocal” backing from the U.K. Chamber of Shipping.

UK Chamber Director of Policy David Balston said:“Today’s announcement shows that the U.K. Government understands the huge economic value the shipping industry delivers for the country, and recognises its huge potential for further growth. It is no secret that the U.K. Chamber has had a number of concerns about the U.K.’s competitiveness, especially with the rise of economies on the Asian continents. But this announcement shows that the Government is listening. What matters most is that this study is ambitious, that it leaves no stone unturned in making the U.K. the most competitive place in the world to do maritime business. There are huge opportunities for growth out there, with all the benefits that come with it including job creation and contribution to GDP. All it takes is the political will, combined with industry expertise, to exploit those opportunities.”

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