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The Secretary for Economic Development and Labour, Mr Stephen Ip, together with the Director of Marine, Mr Tsui Shung-yiu, and leading representatives of the shipping industry: group chairman of IMC Group, Mr Frank Tsao; group chairman of Tai Chong Cheang Steamship Company (Hong Kong) Limited, Mr Koo Kou-hwa; and chairman of Island Navigation Corporation International Limited, Mr Liang Ming-hang, are now in Japan to promote Hong Kong's maritime industry and the Hong Kong Shipping Register (HKSR).

The delegation starts with a trip to Imabari, a shipbuilding city in Shikoku, to meet with Japanese shipowners to promote the Hong Kong Shipping Register. The delegation will then have a seminar in Tokyo on Hong Kong's maritime industry and shipping register.

Mr Ip will deliver two keynote addresses at luncheons he hosts in Imabari and Tokyo, which will be attended by key players of the shipping community, including shipowners, shipping lines, banks engaged in ship financing and trading houses. Mr. Ip and the delegation will update them on the latest developments in Hong Kong's port and maritime industry and brief them on the new business opportunities available for shipping companies following the signing of the Closer Economic Partnership Arrangements (CEPA) between Hong Kong and the Mainland. The delegation will also explain to Japanese shipowners the advantages and benefits of registering their ships with the Hong Kong Shipping Register.

Hong Kong is the 7th largest maritime centre in the world with shipowners managing about 8% of the world's merchant fleet. As at August 2003, the HKSR registers 834 vessels amounting to 18.63 million gross tons, an increase of 20% over the same period last year.

In addition, there are some 800 shipping-related companies operating in Hong Kong, which provide high quality maritime services ranging from marine insurance, legal, arbitration, finance, brokerage, management, registration to ship surveying services.

Mr Ip will return to Hong Kong on October 1, 2003.

End/Monday, September 29, 2003

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