Lessons from British Port Privatisation
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Purpose – In recent years, concerns over privatization have been growing in some public sectors. Privatization in Britain offers lessons for those who have intended to privatize their industry, and in particular, the port industry. Therefore, it is useful for researchers to examine British port privatization in detail, particularly the implications of UK port privatization. Research design, data, and methodology – After reviewing the historical development of the UK port industry, the important factors determining the success of the British port privatization process were identified. The interpretations could be lessons for some other country to consider port privatization in near future. Results – The key factors in relation to port privatization are first, regulation; second, ownership; and third, utilities and operations, which includes autonomy, efficiency, and competitiveness. In addition, the UK port management system is a pure private port system, which has been successful. Conclusions – In Britain, after deciding to privatize the erstwhile public ports, they were fully privatized, focusing on the aforesaid key factors. This offers important lessons for the privatization of other ports in the world.
Abstract
Purpose – In recent years, concerns over privatization have been growing in some public sectors. Privatization in Britain offers lessons for those who have intended to privatize their industry, and in particular, the port industry. Therefore, it is useful for researchers to examine British port privatization in detail, particularly the implications of UK port privatization. Research design, data, and methodology – After reviewing the historical development of the UK port industry, the important factors determining the success of the British port privatization process were identified. The interpretations could be lessons for some other country to consider port privatization in near future. Results – The key factors in relation to port privatization are first, regulation; second, ownership; and third, utilities and operations, which includes autonomy, efficiency, and competitiveness. In addition, the UK port management system is a pure private port system, which has been successful. Conclusions – In Britain, after deciding to privatize the erstwhile public ports, they were fully privatized, focusing on the aforesaid key factors. This offers important lessons for the privatization of other ports in the world.
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