UK invests in green tech to revive shi8k8 jilipbuilding

Britain is investing in green maritime technology as part of a strategy to revive its shipbuilding sector, which has been in long-term decline.

Trade Secretary Anne-Marie Trevelyan last week announced a new exports office to "turbocharge" maritime trade as part of a 4-billion-pound ($5.25 billion) investment in shipbuilding over the next three years.

More than 200 million pounds will fund the research and development in how to cut fuel consumption and emissions in shipping.

Robert Courts, a junior transport minister with responsibility for maritime, was quoted in the Financial Times as saying developing technology expertise is a key focus for the sector.

"While the hull part of things is important, the systems that go into these ships are critical," said Courts. "We're seeking to make Britain a world leader of the systems for green shipping."

Trevelyan said the new Maritime Capability Campaign Office will combine defense export and civil maritime capabilities.

The unit aims to capture export opportunities that are estimated to be worth up to 600 million pounds over the next five years, according to the government.

The investment program is part of the government's 30-year strategy for the nation's historic shipping sector.

A new shipbuilding skills task force "will bring the industry together and supply maritime businesses with the qualified workers they need", and more than 150 new vessels will be produced.

The sector seeks to target global demand for innovative technologies, services and designs, said Trevelyan.

Trade body Maritime UK estimates that more than 3,000 jobs will be created from the investment in green shipping technology. It says 42,600 are already employed in the sector.

The new funding will help startups to compete globally in the commercial shipbuilding market, said the FT, which noted that several British companies are already establishing a profile in the green sector of marine engineering.

One is Silverstream Technologies, which produces innovative air lubrication systems that help cut fuel consumption and emissions.

Others such as Bar Technologies and Artemis Technologies specialize in adapting knowledge developed through years of experience with America's Cup yacht racing to benefit commercial shipping.

Figures from the Organisation for Economic Cooperation and Development claim that global maritime trade is set to treble between 2015 and 2050.

Ben Murray, chief executive of Maritime UK, said the UK sector's strengths are in technology, innovation, maritime services and regulation.