Will Brexit Impact Container Shipping?


Following the UK’s vote to leave the European Union (EU), the decision is not expected to have a huge effect on the container shipping industry, and will only have ‘little direct impact’, according to JOC.com.

It is believed that the vote to leave could raise costs of capital for container ship owners, as well as bring about uncertainties in the market; however, it is still unclear how serious the implications will be for the long term.

PTI previously reported that the UK voted to leave the EU with a near 52%-48% split.

This was followed by news that David Cameron, Prime Minister (PM) for the UK and Conservative Party Leader, is to step down, with a new PM set to be announced at the start of September.

Michael Gove, Justice Secretary for the UK is to stand for Conservative Party Leadership, and is seen as a front runner along with UK Home Secretary Theresa May.

Shipping leaders previously expressed concerns over what could happen to London’s future role as a leading centre for shipping insurance, brokering and finance.

It was also argued that leaving the EU could harm port operators due to 40% of overall shipping traffic coming into the UK being with EU countries.

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.

Supplier Directory

Be listed with industry leaders operating within Ports and Terminals

Webinar Series

Join 500+ attendees on average with a Port Technology International webinar

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.