Scottish Independence Vote Worries Shipping Industry

By George Backwell
Wednesday, September 03, 2014
Scots flag: File image

If the Scots vote for independence in September's referendum, it could hit the country's shipping and offshore maritime sector, according to a survey by leading international accountant and shipping adviser Moore Stephens, cited in Maritime London’s fortnightly news – ‘London Matters’.

The survey of leading members of the shipping industry found that 55 per cent of respondents believed a yes vote damage the industry.

However, 74 per cent said they had no plan of action if Scotland voted to abandon the Union, indicating a high level of confidence in a no vote on 18 September.



According to the Moore Stephens survey, 74 per cent said they had no plan of action if Scotland voted to abandon the Union, indicating a high level of confidence in a no vote on 18 September.

Some respondents didn't mince their words when looking at the prospect of an independent Scotland, “We have no confidence that a Scottish government would properly take account of shipping’s needs,” said one. While another added, “Scotland does not have the necessary infrastructure to replace the UK Merchant Marine. We will change the home port of our vessels from Aberdeen to London.

”

The 45 per cent who already had a business relationship with Scotland were the most despondent about a yes vote, with 69 per cent believing it would have a negative impact.



However, the figures were not all doom and gloom for Yes Scotland, with 57 per cent of those who did not have existing business relationships in Scotland saying secession would be a net positive.


According to Maritime London, The UK Chamber of Shipping has also been looking closely at the issues. On Tuesday 19 August, at Northern Marine Management in Clydebank, it held the last of three  seminars leading up to the referendum and provided members with a final opportunity to discuss the impacts of independence on the shipping industry with the minister before the Scottish Parliament entered a 'purdah' period.

Chamber members heard from the Scottish minister for transport, Keith Brown MSP and officials from HM Treasury, as well as discussing options for further devolution of powers to the Scottish Government in the event of a “No” vote.

The UK Chamber’s chief executive, Guy Platten, presented the minister with two papers outlining the Chamber’s vision for a national ship register and taxation regime for shipping in an independent Scotland, both of which will now be considered by the Government.


Source: Maritime London


People & Company News

MN100: Viega LLC

The Company: Viega was founded in Germany in 1899. By 1901, the company began to manufacture home plumbing products, growing and expanding internationally. In 1999,

Abu Dhabi Ship Building Commissions First Floating Dock

Abu Dhabi Ship Building PJSC (ADSB) has commissioned its first floating drydock located in Mina Zayed as the company looks to expand its commercial service offering.

MN100: Glosten

The Company: Glosten is an employee-owned full-service consulting firm of naval architects, marine engineers, electrical engineers, and ocean engineers. Founded in 1958,

Legal

MN100: MOPS Marine License Insurance

The Company: Since 1935, MOPS Marine License Insurance has defended the USCG licenses of mariners operating in every maritime sector in the United States. Its network of over 80 maritime law firms,

OSV firm Farstad Continues Restructuring Talks

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. 1   Notable disclosures: * CEO says is talking

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

Offshore

Esvagt Makes Vestdavit MissionEase First Choice for Mission Bay

Norway-based boat system and davit-handling specialist Vestdavit has secured a breakthrough order for its unique MissionEase multi-boat handling solution for mission bays,

DNV GL Backs John Laing on First Offshore Wind Investment

DNV GL successfully completed its due diligence work of the offshore wind farm “Nordergründe” in the North Sea, reviewing and quantifying the technical risks of the project.

GoM Operators Evacuating Ahead of Storm

Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9.   The Bureau of Safety and Environmental

Government Update

India Shipping Ministry Enlarges Scope of Sagarmala

India's Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major and Non-Major Ports as well as State Governments

California: A Strong Shipbuilding State

Fifth in the nation for direct employment, California shipbuilding and repair industry supports nearly 35,000 jobs; Maritime Administrator highlights economic importance

White House Sees a Path to Approval of Pacific Trade Deal

The White House on Monday said it was hopeful it could win congressional approval of the Trans-Pacific Partnership trade pact before President Barack Obama leaves office,

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0922 sec (11 req/sec)