Hong Kong’s Chief Executive John Lee today (21 November) addressed a global audience, via a pre-recorded video during the opening ceremony of Hong Kong Maritime Week 2022.
During the ceremony, which was held before a large gathering of local maritime leaders and government officials, and aired online to a global audience, Mr Lee, who is currently isolated due to Covid infection, outlined key initiatives launched while the territory had been isolated from the world during the global pandemic:
“At a time when global supply chains face unprecedented disruption, the resilience and commitment of international trade and logistics continues to provide a lifeline for millions. In doing so, it enables access to food and other essential supplies.
“Global merchandise trade volume rebounded by nearly 10% last year, according to the World Trade Organization. This year, it’s forecast to grow 3.5%. I am confident that the international maritime sector will continue to play an essential role in the resumption of global trade. That very much includes Hong Kong.
“Our port, shipping and maritime services have long underpinned the development of the trading and logistics sector, one of our pillar industries. Last year, Hong Kong was the world’s sixth-largest trading centre, accounting for 3.1% of international merchandise trade – some US$1.4trn in all. About 90% of our cargo volume is carried by water, underlining the essential importance of our port and shipping sector.
“Thanks to our international connectivity and multi-faceted maritime excellence, Hong Kong Port remains one of the busiest container ports in the world. Last year, it handled nearly 18m teu, making it one of the world’s 10 busiest container ports.
“We are also a major regional transshipment port, with some 270 weekly international container vessel sailings connecting to nearly 600 destinations worldwide. We are home, as well, to nearly 900 shipping-related companies, providing a smart spectrum of maritime services, from ship broking, management and chartering to finance, law and insurance offerings,” he said.
The Port of Hong Kong continues to suffer the perfect storm of reduced global demand arising out of a global economic slowdown and ongoing covid restrictions in mainland China. As a result it is unlikely container throughput in 2022 will exceed 17m teu.
Mr Lee continued:
“In my Policy Address last month, I stated that we will fully capitalise on our position as a high-value-added maritime services centre and an important transshipment hub in the Asia-Pacific region.
“In July, we introduced half-rate profits-tax concessions for ship agents, ship managers and ship brokers. This followed earlier preferential tax regimes for ship-leasing companies, ship-leasing managers and marine insurers.
“We are confident that these, and other, measures will attract international maritime companies to establish a presence in Hong Kong.
“The industry also needs talent to take full advantage of the boundless opportunities here. To attract maritime talent, we will launch a Maritime Services Traineeship Scheme next year. It will target young people looking to maritime law for their future.
“We take pride in the Hong Kong Shipping Register. It ranks fourth, globally, in gross tonnage. More than 11% of the deadweight tonnage of the world’s merchant fleet is owned or managed by Hong Kong ship owners.
“As such, we have expanded services for owners of Hong Kong-registered ships residing abroad, establishing Hong Kong Shipping Registry Regional Desks in seven international cities.
“As I noted in the Policy Address, we will promote Hong Kong’s “smart port” development. Ports around the world have started to go green and smart, whether that is transitioning to net-zero carbon and reducing emissions, or meeting industry demands for more efficient operation and greater sustainability.
“The current pandemic has brought these issues to the fore, a reminder of how vital it is to build resilience into everything we do. Incorporating smart and green solutions at the heart of port operations will help us meet these challenges. No less important, doing so delivers business continuity and economic efficiency.
“To that end, we are setting up a port community system. That means sharing data among operators and other stakeholders to boost the competitiveness of our port.
“Sustainable shipping initiatives are also in the works. They include the provision of liquefied natural gas bunkering for ocean-going vessels in Hong Kong, and realising the latest requirements of the International Maritime Organization.
“And, given the boundless promise of the Greater Bay Area (GBA), we will develop an action plan to promote Hong Kong’s value-added logistics development. That includes integrating sea, air and land transport to strengthen the pivotal role Hong Kong plays in the GBA’s connectivity.”
Hong Kong Maritime Week 2022 continues a packed schedule of events until 26 November. For further details and booking opportunities please go to
www.hkmw.hk
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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