The UK and EU struck a deal on Brexit, on Thursday morning, October 17, now waiting for the British parliament’s vote, with the UK Chamber of Shipping welcoming the agreement and ensuring that they will continue to trade freely with its European partners.
The British Ports Association (BPA) and Currency UK, published a report on the decline in the value of the pound. The publication plots sterling against the US dollar and the euro and explores three aspects on the economy: exports, energy and infrastructure.
In light of the upcoming Brexit, the UK Government signed freight capacity deals with Brittany Ferries, DFDS, P&O and Stena Line that ensure that important medicines will still be imported to the UK after Brexit whatever the circumstances.
In a letter to the EU’s Chief Negotiator for the exit of the UK from the EU, Michel Barnier, ECSA and its member the UK Chamber of Shipping, strongly urged for a negotiated settlement that includes a transition period. The letter underlines the economic repercussions on both the EU and the UK, in case of a no-deal scenario at this late stage.
The Port of Rotterdam Authority, the Port of Amsterdam Authority, PortBase, all partners including Customs as well as all the relevant municipalities are putting their efforts to prepare for a possible no-deal Brexit on Thursday, 31 October 2019, in attempts to mitigate any delays coming from additional customs formalities at Rotterdam en Vlaardingen ferry terminals.
With the UK set to leave the EU on Thursday, October 31, the Port of Gothenburg is getting ready to deal with the effects and consequences it will incur for ship freights between Sweden and the UK and the handling of non-UK bound freight at the port.
The British prime Minister, Boris Johnson, proposed the ‘two borders for four years’ Brexit plan, which meas that there will be a regulatory border between the UK and northern Ireland for four years; The BPA opposed to this proposal, adding that the most ideal plan would be based on no customs or regulatory checks at all.
The Department of Transport announced the sixteen ports in England that will receive a multimillion-pound funding pot to boost their preparations for Brexit. The £10 million Port Infrastructure Resilience and Connectivity (PIRC) competition offers up to £1 million to each port.
Doug Bannister, the Chief Executive Officer of the Port of Dover stated that the port, through which a sixth of the U.K.’s trade in products is being transferred, will be able to deal with any disturbance experienced by a no-deal Brexit, accounting for predictions of chaos.
Maritime industry professionals remain confident about the year ahead despite wider uncertainty, a new Business Confidence survey by the British Ports Association reveals. However, ports themselves are more likely to be worried about the economy over the next 12 months.
