Good afternoon, everyone, and a warm welcome to the UK Chamber of Shipping’s Parliamentary Reception. We are honoured that you are here, and especially that the Secretary of State for Transport, and parliamentarians from both Houses have joined us this afternoon.  

My special thanks to Rt Hon Alistair Carmichael MP for his kind words, and for hosting us here today.  

As is reflected around the terrace today—and brought to life in this new The Value of Shipping report that we are delighted to launch this afternoon —ours is an industry that is resilient, international, and thriving.

The Value of Shipping Report – developed with the Centre for economics and business research and in collaboration with the Department for Transport, builds on our previous research series, last issued in 2023, and provides insights on the size and performance of the UK shipping industry throughout the UK. The data has been developed to explore the trajectory of the sector over recent years and will provide a growing evidence base to inform policy development for both industry and policy makers.  

This report highlights that the UK shipping industry remains the lifeblood of our economy.

We power global trade.

We create jobs across the UK.

We deliver growth and prosperity and are critical to the social wellbeing of the country.

Shipping is a vital part of our national infrastructure— at the heart of every supply chain and operating, without fanfare, 24/7, 365.

We move goods, energy, and people to, from and around our island nation.

We are specialists and we are generalists – conducting vital work that supports every industry, sector and area of economic activity from Orkney to the Scilly’s.

Solving logistical challenges, underpinning Britain’s trade with the world and bringing jobs and economic opportunities to every region of the UK.

The scale of what we do is often hard to grasp –  

Every year, UK ports handle nearly 450 million tonnes of cargo: from Bananas to bacon, insulin to iPhones, turbines to train parts, and widgets to whisky.  

Whilst this historic venue may not be the best example – albeit there’s a reason the mother of all parliaments sits upon the great waterway of the Thames - as you leave here today, look around you and consider what “95% of everything comes by sea” really means.

Every street, every building, every room and what is in it has been shaped by seaborne trade. What you are wearing, driving (or travelling in or on), eating, typing on... these products or the components used to make them – came by sea.  

And behind that are hundreds of thousands of people—working tirelessly to keep our economy moving and enabling businesses to do, make, and employ.

Without shipping, none of this is possible.

This was never more starkly evident than during the COVID-19 pandemic.

When much of the economy stopped, shipping kept going.

We kept shelves stocked and supply chains moving—even as the passenger shipping sector faced immense challenges.

And we have all come back stronger because of shipping’s contribution.

We are a powerhouse of growth.  

Shipping contributes over £16 billion directly to the UK economy— that is up 64% since 2019.

We’re growing at 7% per year, outpacing all other modes of transport.

And shipping’s total economic impact has risen from £26 billion to £46 billion in just four years from 2019.

For every one pound we contribute directly, the wider economy gets a boost of £2.87. 

Our workforce has also grown – with the number of jobs made possible by the industry doubling since 2010, to nearly three quarters of a million people, and with nearly one hundred thousand jobs within core shipping roles.  

This means that every job in shipping supports six more in the wider economy...and for every £1 in wages paid in the industry, over £4 in wages is supported elsewhere.

I am delighted that we are joined here today by some of our current cadets – brilliantly representing the maritime workforce of the future.  

However, we know that we must train about 2000 UK cadets each year to meet our future needs, and current figures are well below this. Considering this, we applaud the essential support from Government, in the form of SMarT funding and this must be maintained, along with our collective efforts to champion the industry, to the workforce of the future.  

We provide a range of careers – at sea and ashore – that offer a world of opportunity.  

These are high-quality, high-productivity roles—from seafarers to data analysts, lawyers to logistics operators.

These opportunities are matched by our contribution to the productivity puzzle - Our jobs pay 20% more than the national average and are 120% more productive.

Our industry also provides a vital lifeline for millions.

2.4 million people rely on ferry services which provide essential access to healthcare services and education, connectivity for employment and communities and for transporting essential goods and local products to national and international markets. 

This is why we have called for these lifeline services to be temporarily exempt from the UK ETS maritime scheme, – throughout the UK, as in Scotland, - so that operators can continue to deliver these essential services, while making investment decisions for a decarbonised future.

Alongside these essential operations the passenger shipping sector also supports the nations tourism economy:  50,000 international passengers pass through UK ports every day and 40 million Brits use domestic ferries every year.

This creates jobs, coastal economies and brings benefits to the whole supply chain.  

Every cruise passenger arriving in a UK Port adds, on average, £80 to coastal economies, equalling over £170 million directly to economies around the UK each year.  

Our industry is a driving force in the Government’s ambition to become a green energy superpower.

And not just by greening our own operations.  

The UK Chamber members are proud to have led the way on decarbonisation, calling for net zero by 2050 ahead of both the UK Government and the IMO.

We have already invested in new technologies and pioneering innovations to meet our commitments and are leading the drive towards net zero.  

And therefore, we welcomed the Government’s publication of the Maritime Decarbonisation Strategy. We look forward to working collaboratively with the Secretary of State and her department to move this forward. To do so, we would welcome clarity on the timing of the UK ETS’s extension to maritime, knowledge sharing around the modelling used to underpin policy-making and the continued support of the UK government to drive efforts at the IMO in order to deliver a global framework for decarbonising shipping.  

Shipping is also essential to the renewables transition—from transporting wind farm components to maintaining turbines year-round.  

With increased global energy insecurity, and the scale of the renewable transition ahead, the role of shipping in supporting and enabling the UKs new and developing energy infrastructure has never been more important, and I can assure you Secretary of State of our commitment to fulfilling this role and to progressing our shared goals of building a cleaner, more resilient maritime industry.  

In conclusion, Shipping is an industry rooted in tradition, but driving innovation and connecting British innovators across the world.  

It is an industry that does not stand still - We are moving, evolving, and growing—finding solutions to complex challenges and investing in the future.

We have kept the nation moving through crisis—and now we are powering its recovery.

Shipping is at the heart of solutions to national challenges—from energy security and net zero to economic growth, noting that those things are clearly connected.

We are committed to working with Government to create, together, a greener and thriving shipping industry that can continue to deliver growth and employment opportunities around the UK, and on a global stage.

Ours is an industry that has global reach, but a truly national impact. We are powering local and regional economies up and down the UK: 

From the capital of cruise in Southampton, to the offshore hub of Aberdeen. From Fishguard to Felixstowe - we move people and goods 24/7, 365. From the world-leading services hub here in London – where international bodies make their home – to connecting communities in the Highlands and Islands,  

UK Shipping is an industry that powers trade and delivers a more prosperous nation.