London is world's top maritime spot as trade jumps
LONDON, Sep 24 (Reuters) London remains the world's leading maritime centre fuelled by growing seaborne trade and booming demand for new ships, according to a report released on Monday.
The International Financial Servces, London (IFSL) report said the British capital led the way in key sectors of the industry which has been bouyed by a 48 percent increase in seaborne trade to 30 trillion tonne miles from 1996 to 2006.
London's 400 shipbroking firms matched vessels and cargoes for 50 percent of tankers and 30-40 percent of the dry bulk chartering business, said the IFSL, a private body set up to promote UK-based financial services and institutions.
Commercial banks based in the city also provided billion for ship finance, equivalent to 18 percent of the world book which overall had grown by a third from 0 billion to 5 billion between 2005-7.
''London and the UK is a leading source of capital and expertise for marine insurance, ship-chartering, shipping finance, ship classification, legal and accounting services and dispute resolution,'' the IFSL report said.
REUTERS
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