GRS Warns of Brexit Consequences

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The offshore wind industry might face harsh consequences in case of a hard Brexit at the end of the month.

Official Press Release GRS:

Hard Brexit Consequences on the Offshore Renewables Market

If a Hard Brexit is present on October 31st, 2019, that would have a considerable and significant effect on the Offshore Renewables Market. In the event of a Hard Brexit all UK-flagged vessels will cease to have permission to work in EU-Waters permanently until a new regulation has been developed. But to date it remains unclear as to when a regulation will be found and come into effect.

Charterers and Owners of UK-flagged vessels might not have considered all consequences for their Charter Parties or did not have enough time solving the problem. In order to prevent partial or complete stoppages of offshore projects, delays and the effect of increasing costs the Offshore Renewables Market needs an efficient and rapid solution. UK-flagged vessels in the... ... More: Official Press Release GRS

GRS, Brexit, consequence, offshore, vessel, UK, Europe, flag, maritime transport

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