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One-stop-shop for world-class maritime business services

The UK is recognised around the globe as a centre of world class maritime business services. With many global businesses already based here, Department for Transport Shipping and Ports Minister Robert Goodwill and leaders from the maritime services sector explain the attractiveness of the UK to do business due to the diversity of its specialist maritime clusters and the reputation and professionalism of it highly skilled workforce.Full transcript:Robert Goodwill MPThe UK is recognised around the globe as a centre of world class maritime business services.Sam Kendal MarsdenHere in London we’ve got a well-developed mature cluster of maritime support service in fields as diverse as insurance, law, surveying and technical support. We’ve got the largest cluster of international law firms in the world, access to ship finance through international banks, a well-developed fair and respected judicial system, and London plays host to seven of the thirteen international group P&I clubs that between them insure over 90% of the world’s ocean going tonnage. Marcus BowmanI think there are two elements of the services provided in London, which make it a very important service for the UK maritime industry and for the world maritime industry. The first is that it has a very good reputation, and that reputation has been built on many many years of providing these services to the maritime industry, and second of all there are a high degree of skills available in London.Claudio ChisteFurthermore, it’s and open dynamic market. With a light touch of regulation within a strong culture of governance, underpinned by legislation, this maintains an environment which is dynamic, innovative and creative, it’s a good mix. All this creates a great incubator for maritime financial services.Jeremy PennThe Baltic Exchange has as its motto, ‘Our word, our bond’, and the reason why we have that is because it’s always been vitally important that if you are negotiating with somebody you are able to commit to what you say, I think people do come to London because they know what they’re going to get. The rule of law is sacrosanct. So that high level of integrity in all aspects really of honest dealing is vitally important, so I think that’s our unique selling point in a sense.The net result is the ability to create a whole new suite of instruments, a whole new way of trading which is the freight derivatives market. Claudio ChisteBeing in banking I would say the biggest achievement of our sector in recent years is the ensuring of capital provision to the industry throughout the cycle, be it through agro capital markets or debt capital markets, from traditional source of financing to the more unconventional.Robert Goodwell MPCoupled with our attractive business environment, stable and competitive tax regime and highly skilled workforce, the UK is truly a one stop shop for global maritime businesses seeking high quality, trusted and professional business services.

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