The UK Chamber of Shipping and the Government's Maritime and Coastguard Agency (MCA) will today co-host a seminar for potential international investors, showcasing the UK's quality flag and competitive tax regime as key factors why the UK is the best base for shipping business.
The event forms part of London International Shipping Week, taking place days after Stena move two large LNG ships to the UK register, with Kim Ullman, CEO of Stena LNG, describing the UK as “a stable and good haven for our ships”.
- Shipowners and ambassadors from countries across the world will attend today's event at the UK Chamber of Shipping's offices in London
- UK Chamber Director-General Mark Brownrigg OBE, and MCA Chief Executive Sir Alan Massey will host the joint event alongside high-level tax and flag officials from HMRC and the MCA, and a founding partner of leading legal firm, Watson, Farley and Williams
- One of almost 70 events taking part during London International Shipping Week, an industry venture, with strong Government support, promoting all that London and the UK have to offer global shipping.
The UK Ship Register is recognised as one of the world's best performing flag state administrations, with excellent safety records. Regarding the decision behind the move of their two LNG ships, Dan Sten Olsson, CEO of the Stena Group, said:
“A strong advantage for the UK register is the professionalism and focus on safety, built on long-term experience from the authorities. They also have the requisite understanding of today's commercial realities and the growing competition to attract global shipping companies.”
Debasis Mazumdar, Head of the UK Register at the MCA, said:
“We welcome and support ship owners to register vessels under the UK Ship Register and have experts who can help explain the benefits of our tonnage tax schemes and guide them through the process.
“We have top shipping companies from all over the world under this scheme operating from the UK. London continues to be the strongest shipping hub in the world.”
Today's event will outline the benefits of the UK's tax regime to potential investors. The low tax charge is not only competitive in the global market, but a ten year opt-in period guarantees an unrivalled stability. A unique training commitment under the regime protects and nurtures a skilled UK workforce.
Mark Brownrigg, Director-General at the UK Chamber of Shipping, said:
“Today's event is another example of industry and Government working together to promote and protect the UK's shipping industry, part of a wider maritime services sector worth in total £32bn to UK GDP and providing 540,000 UK jobs.
“The decision by Stena to move two large ships to the UK register is timely evidence – coming during the inaugural London International Shipping Week – that with its stable tax regime, quality flag and host of maritime services, the UK is the natural home for shipping business.”