Australia is in a powerful position when it comes to the ability to maximise economic returns from the Maritime Industry, those in attendance at an industry event heard earlier this month. 

Maritime Industry Australia CEO Teresa Lloyd told members of the Australasian Institute of Marine Surveyors (AIMS) at its annual conference in Hobart, Australia had the fifth largest shipping task in the world. 

Lloyd said there were significant raw commodities for export, Australia will be the largest net exporter of LNG by 2018,  we are reliant on significant imports by sea and have a long coast line with geographically diverse populations and industries. 

She said a handful of changes to existing legislation would significantly increase GDP contribution by 50 per cent up to more than $13 billion dollars, see jobs increase by 30% up to over 40,000 and almost double tax revenue to a total of $1.77 billion.

“Most importantly, these economic benefits can be achieved at no net cost to the Australian economy,” Lloyd said. 

She said it was time to retain and expand the Seafarer Tax to make it available to all vessel types, remove flag requirements, make it available to all staff, regardless of rank or role and allow individuals to manage their own tax affairs when employed overseas.

Lloyd noted it was time to improve the Australian International Shipping Register (AISR) by reducing the eligibility requirements to 90 (or less) days international, allowing access to the AISR to offshore vessels and remove collective agreements negotiated with a seafarers bargaining unit. 

Lloyd said vessels should be encouraged to be in Australia. This could be achieved through the provision for circumstances whereby importation is not in the ‘national interest’, the introduction of a timeframe during which vessels in Australia will not be imported, for example 90 days and exemptions for vessels using Australian drydock facilities.