A new P&I club and some major changes to flag registration are among the main takeaways from the opening days of the ongoing Hong Kong Maritime Week. 

The China P&I Club (CPI) has launched the Hong Kong Shipowners Mutual Assurance Association Limited with the CPI saying the establishment of the Hong Kong P&I Club marks a strategic move to position Hong Kong as a leading hub for marine insurance. The Hong Kong P&I Club offers streamlined, one-stop P&I solutions.

Meanwhile, in the wake of a significant exodus of ships from its fleet, the Hong Kong Ship Registry is changing its rules. The secretary for transport and logistics, Mable Chan said yesterday she was determined to enhance the flexibility of ship registration in Hong Kong, announcing plans to allow dual registration whereby Hong Kong-registered ships can be bareboat chartered under another flag. The move follows the recent decision by two of the territory’s largest shipowners – Pacific Basin and Seaspan – to shift headquarters and much of their fleet to Singapore during the recent port fees spat between the US and China. 

Speaking last night at the welcome dinner of 6th US-China Hong Kong Forum, John Lee’ the territory’s chief executive hit out at US tariffs, saying: “Dialogue is always better than confrontation. Collaboration is more effective than unilateralism.”