Chief Executive John Lee said the Government will step up efforts in fostering Hong Kong’s maritime industry while taking a multipronged approach to consolidating its status as an international shipping centre.

Mr Lee made the announcement today while outlining key measures in his 2024 Policy Address.

He explained that the existing Hong Kong Maritime & Port Board will be reconstituted into the “Hong Kong Maritime & Port Development Board”, a high-level advisory body to assist the Government in formulating policies and long-term development strategies. 

Additional funding will be provided to enhance its research capabilities, strengthen its Mainland and overseas promotional work and step up manpower training, supporting the Government in policy implementation more effectively and promoting the sustainable development of Hong Kong’s maritime industry.”

He emphasised that the Government will strive to promote the development of high value-added maritime and professional services in an effort to boost Hong Kong’s maritime strengths.

Relevant measures include enhancing and promoting tax concessions to strengthen the local maritime ecosystem, attracting maritime service enterprises to establish a presence in Hong Kong and developing maritime services talents.

Regarding advancing the development of a green maritime centre, the Chief Executive stated that the Government will start with promoting the green transformation of registered ships.  This includes offering cash incentives to ships meeting relevant international standards on decarbonisation.

Another action plan, Mr Lee said, calls for developing a green maritime fuel bunkering centre.

“We will promulgate the Action Plan on Green Maritime Fuel Bunkering by the end of this year. We will take forward the related infrastructural development such as green maritime fuel bunker terminals, promote port emissions reduction, offer incentives to encourage green maritime fuel usage, co-operate with ports in the Greater Bay Area, and construct a green shipping corridor with major trading partners.”

He added that offering green fuel bunkering facilities will provide green ships with smart information concerning navigational safety, and enhance the ship monitoring systems to ensure safety during fuel bunkering.

Because commodities, including metals and minerals, account for more than half of the global shipping trade volume, Mr Lee pointed out the Government is keen on creating a commodity trading ecosystem.

“Shipowners and commodity traders are the key users of shipping routes and maritime services. Their presence and operation in Hong Kong can drive the maritime services industry, and boost demand for related financial and professional services such as hedging activities of related futures products, conducive to consolidating and enhancing Hong Kong’s status as an international financial, shipping and trade centre. 

“We will explore the introduction of tax concessions and support measures to attract relevant enterprises in the Mainland and overseas to set up businesses in Hong Kong, building a commodity trading ecosystem in our city.”

He noted that there has been an international commodity exchange expressing its intention to establish accredited warehouses in Hong Kong for storage and delivery of commodities, including non‑ferrous metal products.

As such, the Government will capitalise on this opportunity to establish relevant supporting facilities so as to attract Mainland enterprises to engage in commodity trade, especially of non‑ferrous metal, in Hong Kong.

On the topic of developing the Smart Port and conducting international promotions, Mr Lee shared that the Government will complete the installation of a port community system next year.

“It will be equipped with functions such as shipment tracking, real-time transport information, electronic information and document retrieval, and port data analysis, enabling the flow and sharing of data among stakeholders in the maritime, port and logistics industries.

“The Government will also organise more major events with international maritime organisations and enterprises to showcase to the world Hong Kong’s maritime strengths.”

The Chief Executive also took time in his Policy Address to elaborate on the Government’s strategy of expanding high value-added logistics services.

“We are taking forward the Action Plan on Modern Logistics Development, and will release four quality logistics sites for the industry to develop modern, high-end, multi-storey logistics facilities. 

“The findings of the planning study on the development of modern logistics clusters in the Hung Shui Kiu/Ha Tsuen New Development Area will be published next year.”

The Government will continue to strengthen co-operation in the logistics sector with the western part of Guangdong and other neighbouring areas, making good use of the Hong Kong-Zhuhai-Macao Bridge to expand the catchment area of its cargo services and facilitate more goods to go through Hong Kong, Mr Lee added.