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Browsing: Seafarers Union of Kenya (SUK)
Six months after hosting the first global conference on ‘Sustainable Blue Economy’, Kenya is keen to invest in international shipping, as it remains focused on tapping its maritime resources for economic growth.
The government has set-off a number of initiatives that could see the country reap big from the maritime industry, which drives 92 per cent of its international trade.
Policies, institutional changes, incentives and funding are being put in place to optimize gains in the sector, which has the potential to contribute up to Ksh500 billion (US$4.9 billion) to the GDP annually.
READ:Kenya’s Maritime Transport Policy takes shape
Shipping industry
Top on the list is the revival of the Kenya National Shipping Line (KNSL) which has been dormant for the last 22 years, after mismanagement sent it into debt and loss of business in an untapped Ksh304 billion(US$2.9 billion) business potential—an amount Kenyan importers pay as freight charges …