Hm Treasury News

UK Maritime Minister Nusrat Ghani MP joined the first meeting of maritime sector's new Women in Maritime Taskforce, demonstrating government support for the initiative. At the meeting she said: “This task force will be crucial in opening up the wealth of career opportunities in the maritime industry to women around the country. “The UK has one of the most competitive maritime sectors in the world and with only 3% of the workforce being women, it is vital more take advantage of the exciting opportunities the sector has to offer. Maritime UK – the umbrella body for the UK’s shipping, ports, business services, engineering and leisure marine industries – has established a Taskforce to address fairness, equality and inclusion within the maritime sector.

The UK Chamber of Shipping's CEO Guy Platten and its president Dr Grahaeme Henderson were among a delegation of international shipowners and major figures from the shipping industry that visited 10 Downing Street on Monday as part of London International Shipping Week 2017. The delegation, led by Maritime UK, took part in a round-table debate with government ministers to discuss both the challenges and opportunities facing the UK's maritime industry, and how the government can strengthen the country's appeal as an attractive business centre. UK Transport Secretary Chris Grayling chaired the debate, which was attended by Liam Fox, Secretary of State for International Trade…

The UK Treasury deleted names of three Iranian martitime companies active in maritime transportation from its list of entities entitled to financial sanctions. As per report by IRNA British HM Treasury has announced that following the EU, it had removed from its list sanctions the names of the three Iranian companies that had already been sanctioned due to the EU non-proliferation sanctions. The asset freeze no longer applies to IRISL Club, IRISL Multimodal Transport Company and Leading Maritime PTE LTD. The notice reads that listings of these entities have been annulled as a result of judgments of the General Court of the European Union. U.S. sanctions barred the IRISL fleet of about 170 vessels from sailing in international waters.

Companies operating in the North Sea require a cultural shift to make the most of the its potential, according to a new report from Deloitte, the business advisory firm. The report, which gauges the oil and gas industry’s reaction to Sir Ian Wood’s Maximising Recovery Review, calls on the new regulator – the Oil and Gas Authority (OGA), the Government and companies operating in the North Sea to adapt to a new reality in the basin. Thought closer collaboration between companies would help drive efficiency and cut costs related to extraction, while tax incentives and possibly different ownership models could encourage the sharing of infrastructure.

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.

The U.K. Department of Energy and Climate Change (DECC) issued a news release stating that the interim report on the economic and energy security opportunities still available from the U.K.’s offshore oil and gas resources has been completed. Among other things, the report recommends a new arm’s length regulatory body to oversee and develop a program to maximize the economic recovery of oil and gas for the U.K. Sir Ian Wood has published his interim report revealing the economic and energy security opportunities still available from the U.K.’s offshore oil and gas resources.

On December 23, 2012, the restrictive measures against Iran contained in Council Regulation (EU) No 1263/2012 came into force. The measures supplement those already contained in Regulation 267/2012 of March 23, 2012. While extending the restrictive measures in areas already legislated for, such as over the transfer of funds and financial services, it introduces new prohibitions which affect the shipping industry in a number of important ways. In particular, ship builders and repairers…