Menon Report 2017 recognizes Vancouver for the first time as an attractive global maritime hub

By BCShippingNews
April 27 2017
Vancouver International Maritime Centre (VIMC)
On the occasion of Singapore Maritime Week and Sea Asia 2017, the Vancouver International Maritime Centre (VIMC) attends leading world shipping exhibition.

The release of the Menon Report has forecasted that Vancouver will “climb on the rankings of maritime cities in the years to come.”  Menon Economics is an Oslo based research institution that publishes biennially an overview of the leading maritime capitals of the world.
 
This year, Vancouver was included for the first time, even though Vancouver has work to do to become a complete maritime cluster.  The Menon Report 2017 recognized Vancouver’s potential for future growth but for this to happen there will need to be more focus in maritime finance, banking, insurance, legal services and international shipbrokering. 
 
Menon states that “No city has a more attractive policy framework than Vancouver, according to the experts’ assessments of their own cities. This is not by coincidence. Vancouver, with a strategic location on the Pacific rim of Canada, has a clear aspiration to become a global maritime HQ/management center through broad tax incentives for shipping and auxiliary services. Favourable policy framework, supportive government, and attractive living conditions, are attractiveness factors that probably will lead Vancouver to climb on the rankings of maritime cities in the years to come.”
 
Over the last year, Vancouver has been placed on the map of world maritime centres thanks to a comprehensive promotion strategy showcasing the attractiveness of Vancouver to international shipping and maritime service companies.  Despite a small office and limited staff, Vancouver International Maritime Centre (VIMC) has raised awareness globally of Vancouver’s potential as a maritime hub.  Concrete results have already been achieved by newcomers such as the shipping companies AAL and Greystoke Marine Management and a leading maritime law firm, Norton Rose Fulbright.

Executive Director Kaity Arsoniadis said that this outcome gives her the motivation to continue to work hard to brand Vancouver, Canada internationally as a favourable location for international maritime companies. She emphasized that “the future of global shipping is tied to Asia’s resource demands and Vancouver offers the closest and most diversified port in the North American market”. 
 
VIMC Chairman & CEO, Graham Clarke notes that “Canada’s economic and political stability, rule of law, as well as its high-quality lifestyle and clean air, make Vancouver one of the most attractive maritime hubs on the planet.”
 
Yvonne Rankin-Constantine, VIMC Director of International Business Development remarks that “building a dynamic maritime hub requires decades of strong government policy and support.”
 
“The work of the Vancouver International Maritime Centre has greatly contributed to Vancouver being recognized among the leading maritime capitals of the world. Vancouver has been found to be an attractive location for the management of international maritime services and we acknowledge the role that Canada’s fiscal regime has played in supporting this finding.  The VIMC provides a vital service that promotes Vancouver as a preferred global location for the international shipping market. Demand is growing in Asia for Canada’s natural resources, and Vancouver’s maritime industry will be essential in helping Canadian businesses meet the demand.”
- Lynn McDonald, High Commissioner of Canada in Singapore

The VIMC gratefully acknowledges the support of the Government of Canada and the Province of British Columbia as well as the International Shipowners Alliance of Canada. On this latest mission, the Canadian High Commission and the VIMC co-hosted an event in celebration of Singapore Maritime Week and Sea Asia 2017.