London’s maritime cluster is alive and very well despite the movement of ship owners away from the capital but it is important the City continues to attract commercial maritime interests if its financial services strength is to continue to grow.
This was the message given by Doug Barrow, CEO of Maritime London, in an interview with the press.
Speaking to Hellenic News, Mr Barrow said: “When looking at why London has retained its importance as a maritime centre, you have to consider important factors such as the rule of law, the continuing high quality of the services provided, the skill set that is available across the sectors and the ethics of the industry embodied in the motto of the Baltic Exchange – Our word, our bond.”
When looking at the qualities of a maritime cluster, it is important that the location is able to provide the services needed to operate a company, he said. “Without those skilled in law, finance, insurance, shipbroking, accountancy etc. all working together then it would be significantly harder to operate a shipping or chartering company. It is also important there is high quality infrastructure in terms of transport, communication etc. Finally, there needs to be a good working relationship between industry and government.
“The centre has to provide value for money. You can choose to drive a budget car or a quality car. If those maritime commercial organisations want the best quality and widest range of services, then they need to look no further than the UK. The government is undertaking a Maritime Growth Study and it is anticipated we will see some positive changes in due course encouraging companies to continue to be located in the UK for many years to come.”
For Doug Barrow’s full interview with Hellenic News please click here.