U.K. Shipping Minister Commits to Maritime Industry

MarineLink.com
Thursday, May 09, 2013

U.K. Shipping minister says he is committed to putting the £31.7-billion shipping industry center-stage.

Stephen Hammond, Parliamentary Under-Secretary of State for Transport, speaking at a Maritime London/Shipping Professional Network London event underlined the government’s commitment to the U.K.’s maritime industry and declared its importance to Britain’s economic growth. Contributing £13.8bn to the U.K. economy directly and enabling a further £17.9 billionn, the U.K.’s maritime industry accounts for 2.1% of the entire economy, supports one in every 50 jobs and creates £8.5 billion for the U.K. Exchequer.

Announcing the beginning of a “much more coordinated approach from the government to shipping policy,” Mr. Hammond cited the establishment of a cross-government forum with the Department for Transport, the Cabinet Office, the Department for Business, Industry and Skills (BIS) and industry bodies such as Maritime London and the Baltic Exchange to discuss how the government can continue to help the industry to prosper.

Mr. Hammond said the government particularly welcomes the launch of London International Shipping Week, an event from September 9-13, 2013 focusing on London’s role in the development of global shipping. The world centre for professional and business services to the international maritime industry, London accounts for 21% of premiums in international marine insurance and provides over $64 billion in ship finance, and handles £744 million of shipbroking activity. London also has the world’s largest concentration of legal firms specializing in the maritime sector.

Maritime London Chief Executive Doug Barrow added, “Collaboration between government and industry is essential if we are to ensure that London and the U.K. remain a world beating maritime cluster providing services to the international shipping industry.”


 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People in the News

USCG Assist Duck Hunters Near Harrington Beach Park

The Coast Guard and the Port Washington and Cedar Grove Fire Departments came to the assistance of two duck hunters on Lake Michigan Friday. The names of those involved are not being released.

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Kemp Succeeds Semple at Wood Group

Wood Group announced following changes to its senior management team. Alan Semple, chief financial officer (CFO) has advised the board that he intends to

Government Update

Russia Has No Plan to Cut Oil Output

Russia, the world's biggest energy exporter, does not plan to cut oil production to shore up prices, Rossiya 24 television quoted Energy Minister Alexander Novak as saying on Saturday.

Nigeria to Cut Petrol Subsidy by Half

Nigeria plans to cut subsidies on petroleum products by half next year after sharp falls in global crude prices, spurred the government to revise its 2015 budget downwards,

Venezuela Ships First Crude Mixed with Algerian Oil to China

Venezuela is sending its first shipment of crude mixed with Algerian light oil to China, according to state oil company PDVSA and traders.   Venezuela recently

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1078 sec (9 req/sec)