THE collective fleet operated by members of the Hong Kong Shipowners Association (HKSOA) fell by about 5.6 million deadweight tonnes (dwt) to 56.07 million DWT last year.
The gross registered tonnage (grt) also fell by 3.77 million tonnes to 33.1 million grt.
The HKSOA said: 'It is speculated that the overall reduction in our collective fleet is attributed primarily to some members' operational control being relocated offshore, mainly to Singapore.' Director Michael Farlie said the trend was reversing because of high office and residential costs in Singapore.
While there was a drop in most types of vessels operated by HKSOA members, container vessels recorded the most noticeable rise of 48 vessels, of 2.5 million dwt.
'This growth has been probably at the expense of general cargo ships which have fallen by 50 per cent in vessel numbers and tonnage,' Mr Farlie said.
The HKSOA said the overall number of vessels operated by its members fell by 88 to 1,161 vessels compared with the previous corresponding year.
The number of bulk carriers was almost the same as in 1994 and tanker tonnage fell by seven million dwt.