Guy Platten says UK is ‘up for the fight’ to win maritime growth

The Shipping Minister’s announcement of a Maritime Growth Study marks the biggest opportunity in a generation for the UK shipping industry, but moreover, it is a statement of intent for the whole economy and the UK’s place in the world. Maritime services are worth £32bn to the UK economy, and support 535,000 jobs. Indeed, with 95% of our international trade being moved by sea, a stronger, more prosperous shipping industry will benefit every corner of our economy, including manufacturers, retailers and farmers. Global seatrade is expected to double over the next twenty years, and that provides a huge opportunity for our island nation, which has always been at the forefront of global shipping.

But despite our international reputation as a maritime leader, we face unprecedented competition from abroad. Shanghai, Singapore and Hong Kong are aggressively trying to take our mantle, and established flag states such as Panama and Liberia continue to attract business from around the world. If we are not careful, a massive opportunity for economic growth could be lost. This announcement shows the UK is up for the fight. We know there is huge good will towards the UK from the maritime world. If we get this review right, and are able to provide more robust, competitive and commercial government support for the industry, then companies will invest, they will create jobs and they will grow our economy. We must remember too that, whilst seatrade is rising rapidly, there is a global shortage of seafarers. The UK has world class educational and training institutions with which no other country can compete. The UK is well placed to create a new seafaring generation and ensure the jobs come here, not elsewhere. So too is it well placed to drive entrepreneurialism in the maritime sector. We constantly hear about the importance of inward investment - and it is important. Many of the UK’s leading shipping companies are foreign owned, but choose to come here and contribute to our economy. That is a good thing. But if we spend all our time chasing inward investment, our economic destiny becomes entirely beholden to decisions made abroad. We still have a number of UK-born shipping companies, but we do not have enough. We need a more balanced approach. If you look elsewhere in the world, entrepreneurs and brokers are giving it a go. They are buying their first ships and planning for more in years to come. They are the major shipowners of tomorrow, but so far precious few of them are British. We have to find what is stopping them and remove those barriers. Since the economic crash, hundreds of thousands of new British businesses have been set up – but how many of them are in maritime services? Virtually none. That provides a clear long term threat to the UK industry, and it ignores the numerous opportunities for growth. It is a threat that must be resolved. The review must also take shipowners concerns about the performance of the Maritime and Coastguard Agency seriously. There is a strong feeling that the MCA can be slow and bureaucratic, and that it provides little proactive customer service to the very companies who are boosting our economy and creating jobs. Not only does that frustrate companies already based here, but it stops companies based elsewhere moving to the UK. We strongly welcome the government study and I am delighted that Maritime UK Chairman Jeffrey Evans will lead it. But to ensure this study is successful, we need our members to engage, both with us, and the government. This is a once-in-a-generation opportunity. It is up to us, as well as government, to ensure it is a success.