Vote of confidence in UK shipping

London remains the largest maritime centre in the world for professional, business and financial services and this week is the inaugural London International Shipping Week.

175 senior figures in UK shipping, ports and maritime business services took a survey by Maritime UK.

85% agreed that the UK is a globally competitive place to do business, 74% said the sector will grow during the next five years and 70% said that the UK economy was moving in the right direction.

Maritime services are worth up to £14bn per year to the economy, providing 263,000 jobs.

Asked why the UK has remained one of the world’s premier maritime hubs, London’s role as home to established and reputable maritime services such as legal, financial, business was cited, making the city a ‘one stop shop’ for shipping.

Britain’s time zone also makes it possible to do business in both Eastern and Western markets each day.

The first ever London International Shipping Week began today, with leaders from all sectors of the international shipping industry.

Jim Stewart, Chairman of Maritime UK , said:

“At the beginning of London International Shipping Week, industry leaders have given a ringing endorsement for the UK as a centre for maritime business.

“It is a sign that, despite a difficult economic environment, the industry is determined to carry on being the backbone of the British economy.

“The massive contribution this industry makes to the UK economy should never be taken for granted. The threat from emerging economies is real and significant.

“Industry and government must focus their energies on ensuring that the UK remains one of the most competitive places in the world for international business – and that requires mature, cross-party consensus to build a stable, attractive environment.”