An eight-year review has revealed that a Maritime and Coastguard Agency funding programme for seafarer training contributes more than £500 million to the UK economy.
An independent report has found that a funding programme managed by the Maritime and Coastguard Agency to support men and women training for a career at sea is creating economic value worth nearly five times its initial outlay.
The latest eight-year review of the Support for Maritime Training scheme, which was published on the thirteenth of April, calculated that between 2016 and 2024, the initiative contributed more than £500 million to the UK economy.
This impressive figure comes from a public cost of £117 million and a private sector contribution of £10 million, equating to a return of £4.78 for every single pound spent.
The Support for Maritime Training initiative, commonly known as SMarT, was originally launched in 1998. It provides vital financial assistance to employer-sponsors, covering up to fifty per cent of the training costs required for people to qualify as seafarer officers or ratings.
The scheme is funded by the Department for Transport and has recently been extended by an additional year, effective from the first of April 2026.
Frazer-Nash Consultancy, who were instructed by the Maritime and Coastguard Agency to review the scheme's value for money and provide external recommendations for its ongoing success, described the return on investment as excellent.
The consultancy concluded that the scheme was delivering strong economic returns and offered a fifteen-point set of suggested developments to further improve the programme.
The report by Frazer-Nash Consultancy stated:
"In practical terms, this means that for every £1 of public investment, approximately £4.78 is returned to the UK economy, primarily through the enhanced lifetime productivity of trained seafarers.
These benefits extend beyond their time at sea, as most former seafarers transition into shore-based roles within the maritime sector, continuing to contribute to national economic growth.
This strong multiplier effect is driven by enhanced lifetime productivity of seafarers, both at sea and in shore-based roles, and underscores the strategic importance of maintaining a skilled domestic maritime workforce."
The Maritime and Coastguard Agency has welcomed the findings and intends to consider the report's recommendations with a view to further strengthening the benefits and return on investment of the programme.
The agency plans to continue engaging closely with stakeholders to enhance the scheme, ensuring it consistently delivers a supply of highly trained UK seafarers equipped with the skills needed to support the nation's economic resilience and strategic maritime capability.
Lars Lippuner, the Maritime and Coastguard Agency's Director of UK Customer Service, said:
"This latest review confirms SMarT is continuing to give strong support for the skills that the maritime sector relies on to thrive into the future.
New technologies, fuels and digital systems are increasingly entering the merchant fleet. This presents a major opportunity for the UK which well-trained seafarers can assist in unlocking, bringing benefit to their industry and the wider economy.
This review shows what we have been doing right but also where we need to develop in the future to ensure SMarT continues to nurture seafarer skills and builds on success for decades to come."
Running alongside the Support for Maritime Training initiative is the Cadet Training and Modernisation Programme. Led by the Maritime and Coastguard Agency in partnership with the industry, this programme is actively updating learning and testing methods to prepare future crews for a successful career in the modern, high-tech maritime industry.
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