Displaying items by tag: UK Shipping On Brexit Fallout

13th July 2016

IMDO Review: Stena On Brexit, UK Shipping Calls for Free Trade, Expanded Panama Canal & More

The impact of the Brexit fallout has been discussed by Stena Line and separately by the UK Chamber of Shipping that has called for free trade Commission assistance

#IMDOreview - The latest Irish Maritime Development Office (IMDO) Weekly Market Review has among the following stories as outlined below.

Irish Maritime News: Brexit: Stena Line Discuss the Impact of Brexit - As reported also on Afloat.ie, Stena Line has said it will have to assess how Brexit could impact the UK.

The Swedish company, which sails from Holyhead to Dublin, employs hundreds of workers in North Wales. A Stena Line spokesman said: "As Brexit is a completely new situation Stena Line will have to evaluate its potential impacts from a number of different perspectives.”

Brexit: UK Chamber of Shipping Calls for Free Trade Commission Assistance - In response to last week's decision by the UK to leave the European Union (EU) in the so-called "Brexit" referendum, the UK Chamber of Shipping has issued a call for the government to establish a new Free Trade Commission for the country in order to support, among other things, the country's shipping industry.

Global Maritime News: Expanded Panama Canal - The newly expanded Panama Canal is expected to boost trade between China and Latin/South America as it makes the flow of goods between the two regions easier and more efficient, a Mexican expert on Asia said.

Jose Luis Leon-Manriquez of Mexico City’s Autonomous Metropolitan University, spoke with Xinhua following the opening of the expanded canal on Sunday, with the inauguration ceremony featuring a huge Chinese container ship (COSCO Shipping Panama, Afloat adds) passing through the waterway.

For more on the above stories and other news items, click the IMDO Market Review (Week 26) here.

In addition to further dedicated coverage visit Afloat.ie's Ports & Shipping news.

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About the Loughs Agency

The Loughs Agency is a governmental body established under the 1998 Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Ireland. The Agency's goal is to provide sustainable social, economic, and environmental benefits by effectively conserving, managing, promoting, and developing the fisheries and marine resources of the Foyle and Carlingford areas.

The Agency's governing legislation confers several specific functions, including the promotion of development of Lough Foyle and Carlingford Lough for commercial and recreational purposes in respect of marine, fishery, and aquaculture matters. Moreover, the Agency is responsible for managing, conserving, protecting, improving, and developing the inland fisheries of the Foyle and Carlingford areas. Additionally, the Agency has the task of developing and licensing aquaculture, as well as the development of marine tourism.

The Loughs Agency reports to the North South Ministerial Council and its government Sponsor Departments, the Department of Agriculture, Environment and Rural Affairs (DAERA) in Northern Ireland, and the Department of the Environment, Climate, and Communications (DECC) in Ireland. The Departments fund the Agency on an equal basis.

The Loughs Agency's focus on sustainable development is expected to have a positive impact on the economy, environment, and local communities in the Foyle and Carlingford areas. The Agency's efforts to conserve and enhance the region's marine resources, including fisheries and aquaculture, are expected to benefit local communities, promote tourism, and contribute to economic growth.

In conclusion, the Loughs Agency plays a vital role in promoting the sustainable social, economic, and environmental development of the Foyle and Carlingford areas. Its work on marine conservation and development is crucial in ensuring the long-term viability of the region's natural resources and in promoting sustainable economic growth.