UK shipping sector risks sinking fortunes if Brexit prevails

London

IF Britain votes to leave the European Union, the country's shipping sector faces years of disruption as trade agreements get reworked and currency volatility leads to higher costs at a time when the industry is battling its worst global downturn.

Shipping contributes some £10 billion (S$19 billion) annually to the UK economy and directly employs 240,000 people in multiple areas including maritime services such as ports, transportation, as well as ship broking and marine insurance.