A new study that is designed to help the UK’s maritime transport sector - including freight and passenger vessels - retain its value and become more competitive has begun.

Transport secretary Patrick McLoughlin launched the work with a speech to Parliament on December 19th.

At present, 95 per cent of all the UK’s imported goods arrive in the country by sea, so this study should be of great interest to the freight industry.

In his speech, Mr. McLoughlin made reference to Britain’s long tradition of maritime excellence, saying: “With our one-stop-shop of maritime business services, our central GMT location, our respected flag, and world-renowned maritime expertise, Britannia has for many years ruled the waves around her.”

However, he pointed out the growing competition from such countries as Singapore, Denmark, Germany and Hong Kong meant that constant progress was necessary.

The study will be headed by Alderman Jeffrey Evans, and is expected to report its findings in the summer of 2015.