The UK is renowned across the globe for its leadership in the maritime shipping industry. Historically, shipping has been vital to the development of the UK, which continues to move 95% of all its imports and exports by sea. 1 The maritime sector contributes over £14bn to the UK economy each year, supporting an estimated 186,000 jobs.
The UK also operates the largest share of global maritime insurance, with around a third of the total market. This is more than the United States, Japan, Germany and France.