The LSE is hoping to use the promotional week as part of a concerted effort to pull in more maritime interest.

London International Shipping Week kicks off with the opening of the London market and an open invitation for shipping to list in London

THE London Stock Exchange kicked off London International Shipping Week this morning with a market opening ceremony and an invitation to shipping businesses to consider the benefits of a London listing.

UK shipping minister Robert Goodwill joined British shipping dignitaries including Baltic Exchange chief executive Jeremy Penn and UK Chamber of Shipping head Guy Platten to open the market and what promises to be a busy week of events designed to promote the UK as the leading maritime business centre.

“This is the week that global shipping comes to London,” said Mr Goodwill, speaking at the opening ceremony. “Today London is home to a greater concentration of maritime business services than anywhere else in the world and London International Shipping Week will show what the UK has to offer”.

 While several maritime businesses, including Clarksons and Inmarsat, are listed in London its position as a shipping capital market has largely lost out to New York’s dominance in the sector.

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Sporadic attempts by the Exchange over recent years to lure shipping companies in with charm offensives have generally failed to gain traction, but according to Mark Hoban, the former City minister, now on the Stock Exchange’s board, London International Shipping Week could be the push required.

“We want to play our part in funding the industry,” he said. “We recognise that given the pressures on the banking sector and the de-leveraging of the banks that a lot of people are looking for different sources of funding. So this is just the opportunity to remind you all that we are the leading international stock exchange in the world”.

“I hope to see many more maritime companies listed on the London Stock Exchange, backed by a government creating one of the world’s best business environments,” added Mr Goodwill.

“We want our maritime sector to continue to grow and we will do whatever it takes to secure that growth. The UK is ready for the evolution of world trade over the next decade and beyond”.