UK shipping related business worth $17.5bn

Technorati Tags: Baltic Dry Index,Baltic Dry Indices,Ship Chartering,Shipchartering,Voyage Fixtures,Time Charter Fixtures,Panamax,Capesize,Handymax,Handysize,Supramax,Dry Cargo Fixtures,Bulk Cargo Fixtures,Baltic Exchange,Freight Review,Maritime Baltic Index,TNT Freight Review,UK Shipping Industry,Richard Everitt,UK Major Ports Group

Tuesday, 10 March 2009

OneVoice, the body representing UK shipping, ports and the maritime business services sectors, has presented the results of research to assess the value and significance of the UK maritime services sector. The results conclude that the sector employs one in 50 of the working population and contributes almost two per cent of the UK Gross Domestic Product (GDP). 
The research commissioned by OneVoice partners and conducted by economic consultants Oxford Economics reveals the current economic significance of UK ports, shipping and maritime business services and offers comparative data. The ports findings build upon the UK shipping report published in spring 2008 which has now been updated.
The key findings of the research are that the UK maritime services cluster:
•    supports around 500,000 jobs in total
•    contributes around £25 billion in GDP
“The report confirms how crucial the UK maritime services sector is to UK plc” said Michael Drayton, Chairman of OneVoice. “OneVoice is in its infancy, but this report provides real flesh to the bones of the initiative as the maritime industry looks to establish a substantial and telling political footprint on a range of issues – from the Marine and Coastal Access Bill, and overall fiscal environment facing maritime business services, to the rates revaluations affecting statutory ports.”
The report recognises that shipping and ports make a significant contribution to the UK economy in a variety of ways, i.e. handling 95 per cent of the country’s international trade by volume, supporting employment dependent on access to a port in sectors such as fishing and chemicals, supplying the offshore energy sector and supporting water based sports and coastal tourism.
Richard Everitt, Chairman of the UK Major Ports Group, said: “This is an important and timely report. For the first time we have a comprehensive overview of the vital economic contribution of the ports sector. Ports get on with the important job that they do and don’t often hit the media headlines but that doesn’t mean they do not play a crucial role in supporting the wider economy. This report puts ports and the maritime sector firmly on the national economic map.”
Stephen Bracewell, Chairman of the British Ports Association, said: “In an increasingly globalised economy, the need for a unified maritime sector that supports the national economy is ever more crucial.  This report supports the reality – shipping, ports and maritime business services represents the backbone of British global trade.”
Martin Watson, President of the Chamber of Shipping, said: “With this report, OneVoice brings together the maritime services sector to deliver solid data to inform key stakeholders and decision makers. This will underpin our common positions on key issues.”
Building upon the shipping and ports reports, next year’s account will include a full investigation including the maritime business services sector in the City and throughout the UK.
Source: OneVoice