Latest news from Heavy Lift & Project Forwarding International Magazine

UK looks to free ports as post-Brexit solution

New plans unveiled by the UK government suggests that up to 10 free ports (also known as free-trade zones) could be established following the country’s exit from the European Union (EU).

The UK’s port of Tyne is an advocate of free ports and believes that they present the best compromise arrangement if the UK leaves the EU without a deal. “We welcome the announcement from the Trade Secretary and look forward to progressing our free port application,” said Matt Beeton, the port’s ceo.

The North East port added that the concept has proved successful in the USA, China and Dubai and will bring the most benefit to manufacturers in the region seeking to attract new investment with quick routes to global markets.

Beeton continued: “The Government’s Free Ports Advisory Panel needs to consider the complex needs of manufacturers like Komatsu, Nissan and others and create solutions that safeguard jobs and stimulate further foreign investment.

“We strongly believe a free port covering the region’s advanced manufacturing cluster and key transport nodes like the port of Tyne has the potential to supercharge regional growth by unlocking post-Brexit opportunities in new and existing supply chains.”

In the November/December 2018 edition of the magazine, HLPFI discussed some of the potential opportunities for ports as a result of the UK’s exit from the EU. Speaking at the time, Natalie Britton, director of quayside operations at the port of Milford Haven in Wales, said: “If free port zones can be established, businesses that fabricate large or complex equipment could base themselves within a free port zone and benefit from being more competitive thanks to smarter regulation, Customs and tax regimes.”

While free ports do exist within the EU, constraints have limited their development, when compared to other regions. They are designed to facilitate international trade, but there are still physical, practical and legal barriers to overcome before they can be established.

www.portoftyne.co.uk

Heavy Lift | News

Trade war effects hit the West Coast thumbnail image

Trade war effects hit the West Coast

August 13 - Protracted trade tension between the USA and China has hit the bottom lines of ports and terminals active on the US West Coast. Predicting how volumes will develop in the coming months is proving difficult.
Views: 928
NWSA requests Terminal 46 proposals thumbnail image

NWSA requests Terminal 46 proposals

August 12 - The Northwest Seaport Alliance (NWSA) is inviting companies interested in operating Terminal 46, a 50 acre (20.2 ha) deepwater marine terminal, to submit proposals.
Views: 990
Fernandina opts for Octopi thumbnail image

Fernandina opts for Octopi

August 12 - Florida’s Worldwide Terminals Fernandina has selected the Octopi terminal operating system (TOS) as it modernises its port infrastructure.
Views: 1142

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.