Overview
The UK is home to a world beating array of professional maritime providers. With over 4000 firms in and around London alone providing specialist professional maritime services to the international shipping sector, the UK is unmatched in its expertise for ship chartering, insurance, legal and financial services.
More vessels are fixed through UK based shipbrokers, more capital
provided via London banks and funds and more vessels insured
here than from any other location in the world. English law
is applied to more shipping disputes than that of any country
and London has a high concentration of solicitors, barristers
and arbitrators specialising in maritime related issues.
The UK's maritime services sector is globally renowned for its
expertise and professionalism.
Collectively the maritime services sector contributed circa
£1.5bn to the UK economy in 2006 (source: IFSL)
and provided employment for nearly 15,000. The sector has benefited
greatly from the continuing growth in world trade and strong
freight rates. A
record 7.4 billion tonnes of trade was moved by sea in 2007
and at 1.04 billion deadweight tonnes (Jan 2007), the global
merchant fleet is today larger than ever before. This has meant
a strong demand for a range of professional support services
from shipowning and chartering companies from around the world.
Key strengths of UK maritime services sector:
- Expertise - Shipping is a niche and highly technical sector which requires specialist knowledge to succeed. The pool of expertise available in the UK is second to none. Whether former seafarers or financial, broking or insurance experts, the UK based workforce has a huge range of shipping industry specific skills available.
- Quality - UK based firms are renowned for the quality of their work. The framework provided by key institutions such as the Baltic Exchange, Lloyd's of London, the Admiralty and Commercial courts and Financial Services Authority delivers a high degree of security and confidence.
- Variety - The breadth and depth of UK maritime service providers means that any requirement however large or small can be handled. The interaction between the various professions is a key advantage, enabling quick and expert solutions to shipping related problems.
- Experience - UK based firms have been providing maritime related services for over 300 years and continue to be at the cutting edge of new developments
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