London's maritime cluster pressured by out-flagging vessels

Although considered one of the global shipping hubs, London's maritime cluster is threatened by a significant drop in the country's shipping register. Last year alone, the number of flagged ships dropped by 17 percent.
Photo: Subsea 7
Photo: Subsea 7

Ships are abandoning Great Britain's ship register in huge numbers, which puts pressure on the country's maritime cluster. This is particularly affecting the maritime service sector, reports The Economist. While popular shipping registers Panama and Liberia have long since surpassed Great Britain as preferred flags for shipowners, this new decline is nevertheless seen as alarming. Last year, the number of flagged ships dropped by 17 percent and since 2009 the register has lost a quarter of its tonnage.

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