Coastal communities across the UK are set to benefit from more than £1.1 billion in joint government and industry investment for the maritime sector.
The funding includes £700 million of private investment for major UK ports and leading industry players, as well as £448 million of public investment to reduce emissions from UK shipping.
The UK Government also said it would complete a revised national policy statement, covering Milford Haven as well as England, to help ports save time and money on planning applications to expand sites.
The almost half a billion pounds will bolster the UK Government’s UK SHORE programme, which supports the research and development of new clean maritime technologies and fuels, including electric, hydrogen, ammonia, methanol, wind power and more, it said.
Previous projects have included electric chargepoints at UK ports for vessels developed by Aqua Superpower and smart technology developed by Waterwhelm which can produce hydrogen from recycled wastewater to generate electricity. UK SHORE funding has already delivered £240 million to over 200 projects across the country, some of which are now in active use and have supported 750 jobs so far.
This new funding will be allocated to projects in due course.
Transport Secretary, Heidi Alexander, said:
“Today’s £1.1 billion boost for the maritime industry will supercharge growth and jobs in our coastal towns and cities – making the UK one of the best places in the world to invest.
“We’re committing almost half a billion to cut carbon emissions from shipping – steering us towards net zero by 2050 and cementing Britain’s place as a clean energy superpower through our Plan for Change.”
As part of the UK SHORE programme, the UK Government provides funding to businesses and academia, enabling them to take forward innovative, green projects and leverage further investment from the private sector to deliver real-life technology, which reduces carbon emissions from shipping.
Overall, previous maritime decarbonisation funding has delivered over £110 million in direct private investment and benefitted over 500 UK companies, including 250 SMEs.
Claudio Veritiero, CEO, Peel Ports Group, said:
“Peel Ports Group has invested £1.5 billion over the past decade, future-proofing our operations, strengthening vital supply chains and creating hundreds of jobs across the regions where we operate.
“Looking ahead, we plan to invest a further £1 billion over the next 5 years, with projects already underway that include new port-centric warehousing, steel and metals facilities and major upgrades at key ports.
“These developments underline our long-term commitment to building capacity and efficiency across our network, while supporting growth and productivity in the wider UK economy.”
Stefano D.M. Sommadossi, CEO of NatPower Marine, said:
“We are investing over £250 million in the UK over the next 5 years to accelerate the rollout of shore power infrastructure – a game-changer for both the maritime industry and our coastal communities.
“This investment is more than just ports and cables – it’s about people and prosperity. The overall programme is expected to create over 2,000 skilled jobs, particularly within local port communities. These are real jobs with long-term benefits, embedded in regions that need investment the most. We stand ready to work closely with government to accelerate this innovation in maritime energy transition even further.”
Outside of investment in ports and maritime infrastructure, the government also recognises the importance of the cruise industry to the UK economy, which contributes £5.8 billion and supports 60,000 jobs.
