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 Services, London (IFSL) report said the British capital led the way in key sectors of the industry which has been buoyed by a 48 per cent increase in seaborne trade to 30 trillion tonne miles from 1996 to 2006.
London's 400 shipbroking firms matched vessels and cargoes for 50 per cent of tankers and 30-40 per cent 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 US$49 billion for ship finance, equivalent to 18 per cent of the world book which overall had grown by a third from US$200 billion to US$275 billion between 2005-07.
'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.
The International Financial Services, London (IFSL) report said the British capital led the way in key sectors of the industry which has been buoyed by a 48 per cent increase in seaborne trade to 30 trillion tonne miles from 1996 to 2006.
London's 400 shipbroking firms matched vessels and cargoes for 50 per cent of tankers and 30-40 per cent 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 US$49 billion for ship finance, equivalent to 18 per cent of the world book which overall had grown by a third from US$200 billion to US$275 billion between 2005-07.
'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.