Minister for Transport John Hayes (pictured) joined port-equipment manufacturers from all over the world in London last week to hear at first hand how industry experts plan to handle a potential slowdown in globalisation.

Industry leaders at the two-day AGM of the Port-Equipment Manufacturers Association (PEMA) predicted a growth in protectionism, but they said that this is a result of the market’s maturity, rather than the uncertain economic climate.

Delegates at the AGM heard that the demand for container shipping has plateaued and that “considerable” vessel-scrapping initiatives are expected over the next few years.

Mr Hayes forecast “an era of investment” in port equipment, adding that “deep-sea ports are ever more important.” This was the first time a UK Government minister had addressed a PEMA audience.