Secretary for Transport & Logistics Lam Sai-hung

Director of the Hong Kong & Macao Work Office of the Communist Party of China Central Committee and the Hong Kong & Macao Affairs Office of the State Council Xia Baolong recently said that Hong Kong was named after being a port and thrives by leveraging its ports advantages. We will continue to strengthen our land, sea and air ports. Hong Kong Maritime Week 2024 (HKMW), which concluded today, featured seven days of activities with approximately 14,500 participants, including multiple leaders from the global maritime industry. I know many of you are concerned about the prospects of Hong Kong's maritime development, the ardent response received from the HKMW reflects the global recognition of Hong Kong's traditional advantages in the maritime front, allowing the global attendees to experience the vitality and charm of Hong Kong, as well as the city's determination and advantages in consolidating its position as an international maritime centre.

A name built on the port

The origin of the name “Hong Kong” is widely debated. Some suggest it refers to the abundance of fragrant woods transported via waterways to the mainland along rivers and coastal areas. In 16th and 17th Century maps, Hong Kong Island was recorded as “Red Incense Burner,” possibly named after a red incense burner that drifted ashore. All these stories shared one thing in common: Hong Kong is surrounded by water and the name originated from its maritime and trading nature. For those interested in the history of local ports, you may find the thematic webpage on the history of the port of Hong Kong and Marine Department quite intriguing.

Hong Kong was the world's tenth largest merchandise trading economy in 2023, according to the World Trade Organisation, with flourishing international trade. Over 80%-90% of world trade volume is carried by sea, and port is of course a crucial component. Hong Kong's shipping business composed of port and maritime services. While we consolidate our port development, we also attach significant emphasis on high-value maritime services. Hong Kong boasts a vibrant maritime services cluster comprising more than 1,100 companies that provide shipping and maritime business services, providing comprehensive professional services, including ship management, shipping brokerage, ship financing, maritime insurance, and maritime law.

Our flagship event, Hong Kong Maritime Week, serves as the best chance for us to showcase what our maritime industries are capable of in providing top-notch maritime services to the world, with Hong Kong's strength such as our highly internationalised system.

An unprecedented maritime week

The eighth edition of Hong Kong Maritime Week, which kicked off on Sunday (November 17), saw over 80 maritime organisations hosting more than 50 industry and public events and this year's edition also marked several new milestones.

The International Chamber of Shipping, a world's principal shipping organisation for shipowners and operators which has been established for over a century, held its inaugural two-day high-level Hong Kong Global Maritime Trade Summit (November 17-18). Ministers from different countries and heads of multinational enterprises gathered in Hong Kong to discuss innovative strategies for addressing pressing challenges facing the maritime industry.

Before the official opening of Hong Kong Maritime Week (November 18), the Hong Kong Maritime & Port Board seized the opportunity to sign a memorandum of understanding with the International Group of P&I Clubs, which provide liability cover for 90% of the world's ocean going tonnage. The agreement aims to strengthen collaboration in marine insurance talent training and facilitates further collaboration between Hong Kong, the Mainland and the rest of the world.

For the first time post-pandemic, Maritime London held activities during Hong Kong Maritime Week. They co-organised the Hong Kong-UK Shipping Forum with the UK Shipping Concierge under UK government's Maritime & Coastguard Agency, in partnership with the British Consulate General Hong Kong and the Hong Kong Maritime & Port Board. Permanent Secretary for Transport & Logistics Mable Chan introduced several initiatives from the Action Plan on Maritime & Port Development as well as the 2024 Policy Address to promote the tax concession measures for ship lessors and shipping commercial principals, encouraging them to consider establishing their presence in Hong Kong.

The convergence of financial and shipping strength here in Hong Kong has attracted the attention of the International Maritime Organisation, which proposed hosting a new seminar focusing on ship recycling industry during Maritime Week. This seminar aims to connect the ship recycling sector with financial institutions to discuss solutions that can help the transformation of the industry into an example of sustainability an environmental compliance.

In addition to various meetings, Hong Kong Maritime Week also has a lighter side. Last Sunday, I, along with guests who came from all over the world to join Hong Kong for Maritime Week, took a ride on the Marine Department's vessel Tin Hau from Central to Kwai Tsing Container Terminal to enjoy the world-famous Victoria Harbour scenery. The Hong Kong Tourism Board and the Hong Kong Trade Development Council also arranged a traditional Chinese junk for friends from the global shipping industry to tour Victoria Harbour on Tuesday night. This allowed them to see for themselves the charm of Hong Kong, a place named after its port nature, leaving them with a more vivid impression of the city.

To promote Hong Kong Maritime Week 2024 and the latest developments in Hong Kong's shipping industry, the Transport & Logistics Bureau and TVB have jointly produced a TV drama series titled Maritime Mission. The series was recently broadcast on TVB's channels and has recorded approximately 10 million views to date. You may visit the Transport & Logistics Bureau and the Hong Kong Maritime & Port Board's Facebook pages for replay.

The global logistics supply chain has undergone profound changes after the pandemic, compounded by geopolitical instability and uncertain economic prospects, presenting unprecedented challenges to the global maritime industry. In this shifting landscape of global trade and transportation, this year's Maritime Week brought together Vice Minister of the Ministry of Transport, PRC Fu Xuyin along with ministers and vice ministers responsible for shipping and transport from countries in Europe, Central Asia and the Association of Southeast Asian Nations (ASEAN), to discuss new opportunities and challenges facing the shipping industry. This underscores that Hong Kong Maritime Week is not only about solidifying Hong Kong's status as an international maritime centre but also about serving the global shipping community.

In addition, as one of the flagship events of Maritime Week, the Asian Logistics, Maritime & Aviation Conference attracted about 2,200 participants from over 30 countries and territories, as well as over 80 relevant industry leaders as speakers, including the ministers or deputy ministers overseeing transport-related matters from four ASEAN countries participating for the first time on invitation for making special addresses, reflecting Hong Kong’s edge in having a high level of internationalisation.

Secretary for Transport & Logistics Lam Sai-hung wrote this article and posted it on his blog on November 23.