The Hong Kong Shipowners Association supports several measures in the new fiscal year budget
On February 25, the Hong Kong Special Administrative Region Government released the 2026-2027 Budget. The Hong Kong Shipowners Association welcomes and supports the new measures in the budget.
It is reported that many of the suggestions proposed by the Hong Kong Shipowners Association have been accepted by the Special Administrative Region Government, including: providing tax incentives for eligible commodity traders; introducing incentive schemes for Hong Kong-registered green fuel-powered vessels; optimizing the ship registration system through a dual registration system; collaborating with global maritime organizations to host more large-scale events in Hong Kong; and promoting green shipping investment, smart logistics, and digital transformation to consolidate Hong Kong's position as an international financial, shipping, and trade center as established in the nation's "15th Five-Year Plan."
Mr. Richard Hext, Chairman of the Hong Kong Shipowners Association, stated: "We welcome the new initiatives and fiscal incentives proposed by the Special Administrative Region Government. Over the years, due to developments in geopolitical situations and the global decarbonization trend, Hong Kong's shipping industry has faced more challenges. We are pleased to see the government addressing these pressing issues to promote the long-term development of Hong Kong and the industry."
Mr. Hext said: "Since talent development is also a key issue for the industry, we urge the government to simultaneously study and expand the funding scope of the Maritime and Aviation Training Fund, so that more young students can benefit and more young people can be attracted to join the industry."
In November last year, the Hong Kong Shipowners Association initiated the establishment of the "Maritime Talent Development Alliance," aiming to strengthen the integration of industry and education. The alliance brings together 16 founding member organizations, including highly reputable institutions.
Introduction to the Hong Kong Shipowners Association:
The Hong Kong Shipowners Association was established in 1957 and is one of Hong Kong's major trade associations, with over 200 member companies, including shipowners, ship management companies, and service providers in areas such as ship financing, maritime insurance, agency and brokerage, equipment and energy supply, maritime arbitration, and ship inspection. Over the years, the Hong Kong Shipowners Association has been committed to promoting industry development and is highly respected and trusted in the local, national, and global shipping communities.
