THE Government will not step in to curb rising container terminal port charges because it believes the ports are operated competitively and will continue to grow.
The Acting Secretary for Economic Services, Elizabeth Bosher, rejected calls from shippers, exporters and legislators to set up measures to regulate profits and prices set by terminal operators.
She said container terminal charges in Hong Kong were competitive, and comparable with major trading ports in Japan, the United States and Europe, although 'somewhat higher than countries in the region'.
Legislator Lee Wing-tat urged the Government to set up a regulatory system that would prevent operators from colluding and forcing prices higher.
But Ms Bosher said: 'Hong Kong is virtually unique, since most major ports are operated largely by single conglomerates, which compete only with other ports.' She said new operators were encouraged to join new container ports which prevented cartels and oligopolies.
'For example, the Chinese Ocean Shipping Corporation is a partner in the development of Container Terminal No 8.