{"id":14495,"date":"2016-12-05T21:01:09","date_gmt":"2016-12-05T21:01:09","guid":{"rendered":"https:\/\/seafarersrights.org\/liverpool2-terminal-aims-at-transatlantic-trade\/"},"modified":"2016-12-05T21:01:09","modified_gmt":"2016-12-05T21:01:09","slug":"liverpool2-terminal-aims-at-transatlantic-trade","status":"publish","type":"post","link":"https:\/\/seafarersrights.org\/liverpool2-terminal-aims-at-transatlantic-trade\/","title":{"rendered":"Liverpool2 Terminal Aims at Transatlantic Trade"},"content":{"rendered":"
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By Reuters <\/a><\/b> 2016-12-06 16:01:09 <\/p>\n

Liverpool\u2019s new container terminal expects to ramp up transatlantic shipping as British companies look to deepen business ties despite concerns that the U.S. election of Donald Trump could hinder free trade, the port operator\u2019s chief said.<\/p>\n

Private group Peel Ports has invested $510 million in transforming Liverpool\u2019s existing facility into a deep-water container terminal that can receive bigger ships. The new development opened last month.<\/p>\n

Mark Whitworth, chief executive of Peel Ports, said Liverpool, on England\u2019s northwest coast, already had 45 percent of the UK\u2019s transatlantic trade and \u201cthere is no reason why our aspiration should not exceed 60 percent\u201d.<\/p>\n

A number of companies have made investments in the region, including spirits giant Diageo and car maker Jaguar Land Rover \u2013 both of which were targeting bigger transatlantic trade, Whitworth said.<\/p>\n

Britain\u2019s decision to leave the European Union is also driving efforts to bolster trade outside the bloc.<\/p>\n

At the same time, there have been worries about Trump\u2019s presidential campaign pledges on redrawing trade deals to win back U.S. jobs. Economists have warned such moves could spark a trade war and roll back decades of liberalisation, which has buoyed international shipping.<\/p>\n

\u201cI genuinely believe that Brexit in conjunction with the U.S. presidency will force greater trade between us and the U.S.,\u201d Whitworth said, dismissing trade concerns over the election of Trump.<\/p>\n

\u201cLiverpool particularly is extremely well placed to capitalise,\u201d he told Reuters.<\/p>\n

Whitworth said Liverpool port was also looking at closer ties with the Panama Canal and had signed a memorandum of understanding in recent weeks aiming to bolster trade with South America.<\/p>\n

The expanded canal opened in June, fitted with new locks that allow ships three times bigger than previously to pass through.<\/p>\n

The container sector continues to struggle with weak earnings due to softer consumer demand and oversupply, which has triggered a wave of mergers and acquisitions. The world\u2019s top container group, Maersk Line, said last week it would buy smaller rival Hamburg Sud.<\/p>\n

Whitworth said Peel Ports expected more consolidation next year, which would enable lines to become more innovative on trade routes including via the Panama Canal.<\/p>\n

Peel Ports, Britain\u2019s second-biggest operator in terms of cargo handled, competes with bigger private rival Associated British Ports (ABP).<\/p>\n

When contacted, ABP said Liverpool, like its own ports in the northeast Humber region, was \u201can important gateway\u201d for Britain\u2019s north.<\/p>\n

\u201cInvestment in new port infrastructure and facilities is vital to ensure businesses up and down Britain benefit from the best possible access to international markets,\u201d ABP said.<\/p>\n

<\/em><\/p>\n<\/article>\n ","protected":false},"excerpt":{"rendered":"

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Liverpool\u2019s new container terminal expects to ramp up transatlantic shipping as British companies look to deepen business ties despite concerns that the U.S. election of Donald Trump could hinder free trade, the port operator\u2019s chief said. Private group Peel Ports has invested $510<\/p>\n<\/div>\nRead More<\/a>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[33],"tags":[],"class_list":{"0":"post-14495","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-maritime-executive","7":"entry","8":"gs-1","9":"gs-odd","10":"gs-even","11":"gs-featured-content-entry"},"acf":[],"yoast_head":"\nLiverpool2 Terminal Aims at Transatlantic Trade - Seafarers Rights International<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seafarersrights.org\/liverpool2-terminal-aims-at-transatlantic-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Liverpool2 Terminal Aims at Transatlantic Trade - Seafarers Rights International\" \/>\n<meta property=\"og:description\" content=\"Liverpool\u2019s new container terminal expects to ramp up transatlantic shipping as British companies look to deepen business ties despite concerns that the U.S. election of Donald Trump could hinder free trade, the port operator\u2019s chief said. 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