Displaying items by tag: UK Treasury

17th February 2020

New UK Treasury Minister Announces Ten-Week Consultation to Rapidly Establish 10 Free-Ports

Tanker Thun London departing the Milford Haven Waterway in Wales (a proposed UK Free-Port). The 20,499 cargo capacity newbuild launched last year is from a series of chemical tankers ordered by a Swedish lake based shipping group, which are regular callers to Dublin Port where the new vessel is berthed today.

Ports in the UK, once designated as freeports, will have no domestic taxes levied on any goods within them, according to a Multimodal news update.

Taxes will only be levied when a product leaves the freeport, and enters the rest of the UK.

This has the effect of encouraging international business to come to the UK to process or store goods with little to no red tape, bringing jobs and investment in the mainly coastal communities that have been neglected during the UK’s membership of the EU. Ten are set to be designated by the end of the year.

OrderOrder has more to report on the story and on the industry leaders which have already started lobbying for freeport status.

Afloat adds among the freeports proposed is an Atlantic freeport in Wales located on the Milford Haven Waterway. Where (pictured above) is tanker, Thun London (18,650 deadweight) one of five new chemical product tankers for a Swedish lake based shipping group.

Thun London, Afloat also adds yesterday completed a passage from the Welsh waterway (incl. Pembroke Dock) to Dublin Port where the new vessel remains berthed today.

Published in Ports & Shipping

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Shannon Foynes Port Information

Shannon Foynes Port (SFPC) are investing in an unprecedented expansion at its general cargo terminal, Foynes, adding over two-thirds the size of its existing area. In the latest phase of a €64 million investment programme, SFPC is investing over €20 million in enabling works alone to convert 83 acres on the east side of the existing port into a landbank for marine-related industry, port-centric logistics and associated infrastructure. The project, which will be developed on a phased basis over the next five years, will require the biggest infrastructure works programme ever undertaken at the port, with the entire 83 acre landbank having to be raised by 4.4 metres. The programme will also require the provision of new internal roads and multiple bridge access as well as roundabout access.