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Register reaches 10.2 million grt and focuses on new goal for year's end

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In nine months, Kwai Chung operators handled 8.6 million teu, up 14.6 per cent

The Hong Kong shipping register reached the 10 million gross registered tonne (grt) mark last week, beating its target date of the end of this year.

Director of Marine Tsui Shung-yiu said this was made possible through the joint efforts of the Marine Department, Hong Kong Shipowners' Association, Hong Kong Port and Maritime Board (PMB) and shipowners.

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The Hong Kong shipping register, which stands at 10.2 million grt, is expected to reach the 10.5 million mark by the end of the year.

Initiatives including cost-saving measures and elimination of bureaucratic procedures, unveiled by the Government earlier this year to attract shipowners to register vessels under the Hong Kong flag, triggered the rapid growth.

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The proposals, outlined by Financial Secretary Donald Tsang Yam-kuen in his Budget speech in March, have been aimed at stimulating shipping and related activities to stem the slowdown of container throughput growth at Hong Kong port.

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