After Scotland’s “No” vote yesterday, many shipbrokers woke up “in relief” while others felt that they missed a chance to benefit further from a volatility-hit sterling. The sterling reached a ten-month low of $1.6051 before recovering yesterday aided by general belief that the anti-independence campaign would be victorious. A weaker sterling had boosted their dollar profits over the last few weeks but it did not last for long.
UK-based shipbroker said: “Dollar is shipping’s international currency but the period of time that sterling weakened was short.
There is a likely tax devolution to Scotland and in what extent it would affect the maritime sector. Predicted more uncertainty over the next few months unless the politicians reveal a shipping industry plan soon enough.
