Financial News
Hong Kong - Sailing towards a greener tomorrow
November 19, 2024 at 07:00 AM EST
The theme of Hong Kong Maritime Week 2024 is "Navigating to a Greener Future".
With over 50 industry and public events hosted by more than 80 marine organisations, this year's HKMW has attracted about 14,500 local, Mainland and international maritime professionals.
HKMW is also an opportunity for Hong Kong's maritime industry to demonstrate its commitment to reinforcing its status as an international maritime centre and expanding its high-end maritime service offerings, as underlined in last month's Policy Address announced by John Lee, Chief Executive of the Hong Kong Special Administrative Region. Among the key policy areas are the development of high value-added maritime services and developing the city as a green maritime centre.
Speaking at the Hong Kong Global Maritime Trade Summit (November 18) themed "Risk & Resilience in an Age of Disruption", Secretary for Transport and Logistics, Lam Sai-hung highlighted the city's latest achievements.
"Hong Kong is the first flag administration to introduce a green incentive scheme offering cash reward for Hong Kong registered ships attaining rating A or B in IMO (International Maritime Organization)'s carbon intensity indicator," Mr Lam said.
"We promulgated last Friday (November 15) the Action Plan on Green Maritime Fuel Bunkering and 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 neighbouring ports and set up green shipping corridors with major partners."
Mr Lam added that Hong Kong would step up partnerships with Mainland and overseas institutions in nurturing maritime manpower and talent through more collaborated training and talent exchange programmes, with a view to nurturing high-quality talent.
Another theme of this year's HKMW is the development of the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area). Here, Hong Kong has an important role to play thanks to its competitive advantages including a preferential tax regime for maritime services and high-quality professional services such as marine insurance, maritime law and arbitration, maritime technology, port and logistics, ship finance and ship management.
Addressing the opening of the ALMAC (November 18), Acting Chief Executive, Chan Kwok-ki, noted that Hong Kong ranked fourth in this year's International Shipping Centre Development Index, a testament to the city's strengths as an international maritime centre.
"We see long-term opportunities in Hong Kong's rise as a green and smart port. Our Action Plan on Maritime and Port Development Strategy (the Action Plan) outlines that promising future, including building green fuel-bunkering capabilities," he said.
"Combining our aviation and maritime strengths, Hong Kong has long been a major cargo gateway to and from the Greater Bay Area."
Other main events of HKMW 2024 include the inaugural Global Maritime Trade Summit in Hong Kong and a forum hosted by the IMO titled "From Waste to Wealth: Unlocking Investment Opportunities in Ship Recycling", focusing on the sustainable recycling of ships and related prospects.
Government officials around the globe and prominent leaders from the international maritime sector gathered in Hong Kong to attend Hong Kong Maritime Week 2024.
Meanwhile, Dalian Maritime University's "Xin Hong Zhuan", the world's first intelligent research and training dual-purpose ship, is also making its debut visit to Hong Kong.
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