Porthk
Porthk
Kong
The Port of
              The Port of   Hong Kong
      EVERY CONTAINER
       is important to us
Contents
Safe haven 6
40 of the best 8
Boom River 20
Vital link 23
Alternative discharge 28
Port in a storm 30
香港港口 – 在挑戰中持續發展 37
整裝迎變展優勢 38
香港以作業典範吸引船舶註冊 39
避風港 40
香港銀行收緊貸款條件 41
香港盡展物流優勢 42
關鍵聯繫 44
Statistics 56
Directory 59
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                                       H
                                                    ong Kong’s deep-water harbour and ideal location at the intersection of global
                                                    and regional shipping lanes have made its rise as a buzzing hub port seem almost
                                                    like a natural development, a development which has been boosted by decades
                                                    of fast economic growth in China. Apart from these natural assets, the position
                                       of the Hong Kong Port as a leading regional hub port is further reinforced by an excellent
                                       institutional framework, a business-friendly environment, the professionalism and dedica-
                                       tion of our industry personnel, as well as forward planning premised on government-industry
                                       partnership.
                                             To sustain the strength of the Hong Kong Port, the Hong Kong Special Administrative
                                       Region Government is committed to the development of talents and expertise for maritime
                                       services. We are also mindful of the need to improve our port facilities and, in this connec-
                                       tion, the dredging works for the Kwai Tsing container terminal basin and its approach chan-
                                       nel are being taken forward for completion by around 2016 to accommodate the increasing
                                       draughts of ultra-large container ships.
                                             The Hong Kong Shipping Register has continued to grow year by year, with a total
                                       gross tonnage of 78.6m GT as at September 2012, and we remain the world’s fourth largest
                                       register.
                                             This Handbook is a practical guide to Hong Kong’s wide-ranging port and maritime
                                       services which we readily offer. It provides useful information to both people in the trades as
                                       well as the general readers interested in Hong Kong’s success story.
                         W
                                          ith the European economy under the weather for some time, Asia has
                                          emerged as the engine of growth. New development frontiers have been
                                          opened for the maritime and logistics industries. For Hong Kong, we see a
                                          much faster rate of growth for goods heading to China via our port. At the
                         same time, however, competition from neighbouring ports in the Pearl River Delta region has
                         never been keener.
                              Hong Kong owes its position as a renowned international shipping centre to its world-
                         class infrastructure, efficient and comprehensive shipping services, high-calibre maritime
                         professionals and unrivalled multi-modal connectivity with the rest of the world. For our
                         port to stay ahead in the competitive business environment, we are committed to facilitating
                         the operation of the industry by, inter alia, reviewing port fees and charges regularly. This
                         year, we have launched a green shipping scheme, whereby eligible ocean-going vessels may
                         enjoy a 50% reduction in port facilities and light dues if they use cleaner fuel with sulphur
                         content not more than 0.5% while berthing in Hong Kong waters.
                              Hardware-wise, works are already underway or in the pipeline to further sharpen our
                         edge. For instance, the Hong Kong-Zhuhai-Macao Bridge is being built to reduce the travel-
                         ling distance and time between Zhuhai and the Kwai Tsing Container Basin by over 60%.
                         Two studies on the strategic development of our port will be completed by the end of the
                         year to see how we can be more responsive to trends in the shipping industry.
                              We trust that, with the co-operation of the industry and enhanced infrastructural and
                         policy support, we will have the wind in our sails as we endeavour to maintain our status as
                         a regional hub port.
                              This handbook offers a wealth of information and data on the Port of Hong Kong. It
                         will be of value to those engaged in shipping and its support services, and those who take a
                         general interest in the latest industrial developments.
                         Francis Liu
                         Director of Marine
      Safe haven
      Hong Kong’s economy is holding up despite a global storm
      T
                   he list of accolades that                                                                      Business registration fees for
                   Hong Kong receives for                                                                     2012/13 have been waived and profits
                   its economy each year is                                                                   tax have been slashed for 2011/12 by
                   exhaustive: the world’s freest                                                             75% to a maximum of HK$12,000.
      economy; the world’s most competi-                                                                      Last but not least the government has
      tive economy; the world’s most services                                                                 launched a micro-financing scheme
      oriented economy; and on it goes.                                                                       with a maximum loan amount of
           It’s a great place to be too: witness                                                              HK$100m for starter businesses.
      Hong Kong’s reception of 41.9m visi-
      tors in 2011, adding HK$263bn to the                                                                    The mainland
      local economy. Of the total number                                                                      connection
      of visitors 28.1m arrived from the                                                                      The ever-growing integration of the
      Chinese mainland – perhaps one of the                                                                   Hong Kong economy with that of
      more visible examples of the increasing                                                                 mainland China continues apace. Hong
      assimilation of Hong Kong and the                                                                       Kong is far and away the mainland’s
      rest of China.                                                                                          chief entrepot, and its largest invest-
           Tourism is described as one of the                                                                 ment source. The territory has always
      four pillar economic sectors of Hong                                                                    been China’s most important offshore
      Kong but the maritime industry sits at                                                                  capital raining centre. Now, with an ad-
      the heart of the greatest pillar of them                                                                dition to the provisions already in place
      all – trading and logistics – which                                                                     under the mainland-Hong Kong Closer
      accounted for a massive 25.5% of                                                                        Economic Partnership Agreement,
      GDP in terms of value-added in 2010.                                                                    economic ties between the two entities
      Financial services produced 15.4% of                 Known for employing a light hand at                is about to get even closer.
      GDP while other professional and producer        the tiller of the economy, the Hong Kong              With the signing of Supplement IX to
      services rendered a further 12.8%.               Government in its 2012 budget released            CEPA in June 2012, a total of 43 services
           With an economic storm raging around        on 1 February 2012, unveiled strategic            liberalization and investment facilitation
      the world, even Hong Kong’s economy has          proposals for business in the territory that      measures were introduced to enhance
      been feeling the chill in 2012, but the terri-   are bound to be of interest to any company        cross-border cooperation in the fields of
      tory has been holding up remarkably well.        deciding to locate/relocate all or part of its    finance, trade and investment. The main
                                                       business to Hong Kong.                            consequences are that all but a few Hong
      Holding up                                           The administration has boosted the            Kong products can be imported into the
      The Hong Kong economy began to slow              benefits to the existing SME Financing            mainland tariff free. Hong Kong service
      in the second quarter of 2011. At the end        Guarantee Scheme and introduced new               providers also benefit from preferential
      of the first half of 2012, GDP in real terms     policy terms under the Hong Kong Export           treatment. The latest measures take effect
      grew just 0.9% compared to 5% growth in          Credit Insurance Corporation.                     from 1 January 2013.
      the first half of 2011.
          The first half of 2012 saw total export
      of goods fall 3% year-on-year. By contrast           Key figures (2011)
      export of services grew a modest 2.5%. Do-           Population 2011                       7.07m
      mestically the economy has fared better in
                                                           GDP                                   US$243.2bn
      the first half of 2012 with private consump-
                                                           GDP Per Capita                        US$34,300
      tion surging by 5.1% year-on-year. Invest-
      ment spending also grew by an impressive             Real GDP Growth                       5%
      9%. As a whole the government predicted              Inflation                             5%
      in August GDP growth of between 1% and               Unemployment Rate                     3.4%
      2% for 2012.
40 of the best
      T
                 here is an air of celebration in the   busiest container port in the world.                  Today, Modern Terminals owns and
                 offices and the yard and along the          To get some idea of how Modern Ter-         operates Terminals 1, 2, 5 and 9 (South),
                 berths of Terminals 1, 2, 5, and 9     minals has coped with the growth in trade        occupying an area of 92.61 hectares. The
                 (South) in Kwai Tsing. Modern          and the constant demands for increased           company has a stacking capacity of 85,000
      Terminals is taking a moment to look back         efficiency, one need only look back to its       teu and an alongside depth of 15.5 metres.
      on 40 pioneering years in the containerised       origins.                                         There are 30 Quayside Gantry Cranes and
      cargo business. The company opened Hong                Modern Terminals was established in         101 Electricity-powered and Hybrid-pow-
      Kong’s first purpose-built container terminal     1969. At the beginning, the company was          ered Rubber-tyred Gantry Cranes (RTGs).
      on 5 September 1972, when it handled the          awarded a 25-acre berth and an extra 12-acre     There is also a 12-storey warehouse building
      containers of shipping line OCL’s Tokyo Bay       back-up land for storage, totaling 37 acres at   on site providing 101,191 m2 of storage
      alongside Terminal One.                           Terminal One in Kwai Chung. Tokyo Bay, a         facilities.
           In the 40 years since, Modern Terminals      58,000-ton vessel with a carrying capacity of         In 2007, Modern Terminals’ pioneering
      has consistently been first among equals as       some 3,000 teu, was the first container vessel   spirit was again on show when it was among
      it grew and enhanced its service offerings        that called at Modern Terminals’ Terminal        the first operators in the region to seriously
      in what was to become (until recently) the        One on 5 September 1972.                         address the issue of on-site emissions.
                                                      E-RTGs emit zero carbon dioxide dur-        promoted by Modern Terminals and its
                                                 ing their operations in the terminal area and    competitors.
                                                 their indirect carbon dioxide emissions are           “Hong Kong has been a vibrant and
                                                 60% lower than those of diesel-powered           dynamic market for the world’s largest ship-
                                                 RTGs.                                            ping lines, which value the port’s strategic
                                                      Still further greening initiatives are in   location and terminal operating efficiency,”
                                                 the pipeline at Modern Terminals, which          he said.
                                                 has recently established a “Green Terminal            “The past few years have seen changes
                                                 Model”, with an objective of integrating all     in the composition of Hong Kong Port’s
                                                 environmental considerations into its port       throughput volume, with a significant
                                                 development life cycle.                          increase in transshipment cargoes and a
                                                      “We aim to make our new terminals           shrinking trucked cargo segment. There
                                                 green from day one,” said managing director      has been a shift from road traffic to
                                                 Hong Kong, Modern Terminals Mr K T               river freight transport, which currently
                                                 Lee, who is also the chairman of the com-        accounts for more than half of the total
                                                 pany’s Environmental Committee.                  cross-boundary container movement
                                                      “For existing terminals, we continue        in Hong Kong, as compared with only
                                                 enhancing our environmental performances,        33% in 2000. The trend for increased
                                                 especially concerning carbon emission            barge calls to Kwai Tsing terminals has
                                                 reduction.                                       led to the need for more dedicated barge
                                                      “Modern Terminals in Hong Kong and          berthing facilities within the port area
                                                 our subsidiary Taicang International Gate-       promptly, in order to address the barge
                                                 way in Jiangsu have obtained the ISO 14001       congestion issue that affect the competi-
                                                 environmental management system. We are          tiveness of the Port.
     It was then the company adopted from        embarking on energy efficiency manage-                “While transshipment cargoes need to
among the technologies available a more          ment,” he added.                                 stay in the yard areas for a longer time, more
mature and proven hybrid system for modi-             To extend the green drive to its facili-    storage space inside the terminal is needed.
fying 44 RTGs, each reducing about 40% of        ties on the Pearl Rive Delta (Da Chan Bay        Given the limited terminal space in Hong
carbon dioxide emissions as compared to a        Terminal One) and the Yangtze River Delta        Kong, there is a demand for additional
traditional diesel-powered RTG.                  (Taicang International Gateway) was a            container depots near the terminals to serve
     In 2011, Modern Terminals invested          natural progression for the company. As a        as back-up land for increasing terminal
HK$170m in a massive project that convert-       result, both mainland ports are delivering       operations efficiency.
ed a total of 94 rubber-tyred gantry cranes      the same top-notch efficiencies and world-            “At the same time, Hong Kong Port’s
into electric-RTGs at its facilities in Hong     class services to its customers, while keeping   competitiveness in the trucked cargo seg-
Kong, by deploying an automatic electric-        an unerring eye on the environmental             ment should be improved through full
ity connection system in collaboration with      footprint.                                       liberalization of logistics flow across the
an optimized power supply system design.                                                          boundary. Since this involves all stakehold-
Of this fleet, 81 units were scheduled to be     A Plan for Hong Kong’s                           ers in the logistics community in Hong
completed in the first phase.                    future port development                          Kong, the Government must take leadership
     Via a touchpad on the E-RTG, an             Land constraints in Hong Kong have always        to accomplish this objective,” concludes
operator can easily control the connection of    been a problem but as Mr Lee points out,         Mr Lee.
an automated telescopic arm to a conductor       changing trading patterns have exacerbated            It is to be hoped that the new adminis-
rail system so as to facilitate crane mobility   the issue. It is now the time for government     tration that took office in July of this year
at the stacking yard.                            assistance to ensure the future legacy so well   will heed Mr Lee’s wise words.
       S
                   ince January 2011, Hongkong
                   International Terminals has joined
                   an overall vision of port opera-
                   tion and efficiency in Hong Kong
       and the Pearl River Delta under the auspices
       of Hutchison Port Holdings Trust, which
       was established at that date. As such, HIT
       and its sister operations COSCO-HIT and
       Yantian International Container Terminals
       boasted a combined container throughput of
       21.9m teu in 2011.
           To achieve this eminent position against
       strong competition the new business entity
       has stuck by a 40-year tradition of develop-
       ment and innovation that has kept it at the
       vanguard of operational efficiency and de-
       voted customer service for two generations.
       Automation is a driver
       towards greater
       efficiency                                       crucial operational decisions every minute       information can be automatically collected,
       The move to greater automation is a case in      e.g. routing of internal trucks in the yard;     reducing the possibility of container location
       point. HIT is working to enhance the semi-       location to store each arriving container;       mismatch. Moreover the AGSS (Automatic
       automated RMGCs in the yard by updat-            sequence of discharging /loading job order;      Gantry Steering System) reduces driver
       ing them all to remote operations and the        deployment of internal trucks for each quay      fatigue by automating the gantry movement
       expected completion date is 2013.                crane; workload balancing for yard cranes,       of the crane running in a straight line, which
            Information technology too has become       etc. Each decision made in respect of the        assists the crane operator to focus on driv-
       a critical factor in the company’s seamless      above directly affects operational efficiency,   ing, and safety is enhanced.
       terminal operation. The company’s Terminal       and service received by customers.                    ‘EDI (Electronic Data Interchange) is
       Operating System, nGen, consists of three             In the past few years HIT has intro-        the main communication and information
       major functional components, namely plan-        duced a swath of IT systems that have upped      exchange channel between shipping lines
       ning engine, automation & execution engine       the ante in terms of overall efficiency time     and terminal operators. It enhances timeli-
       and user-interface control engine which is       and time again. For example, PDS (Position       ness of information flow and reduces human
       responsible for hundreds of real time and        Determination System), container location        errors and paper consumption. Further-
                                                                                                         more, advanced EDI booking information,
                                                                                                         together with the Truck Identity Card &
                                                                                                         Truck Appointment System, bring down the
           Number of berths:                                12                                           amount of manpower needed at the gate-
           Quayside length:                                 3,992 metres                                 house to manually process paper work.
           Quayside Gantry Cranes:                          48 (CT 4,6,7 & 9 North)                           NSS (nStep Shuffling) system is a house-
           Rubber-tyred Gantry Cranes:                      146 (CT 4,6,7 & 9 North)                     keeping tool that optimizes the position of
           Depth alongside:                                 14.2 – 15.5 metres                           containers within the storage yard prior to a
                                                                                                         vessel’s arrival. The goal of NSS is to bring
           Total area:                                      111 hectares
                                                                                                         the designated containers to the top of each
                                                                                                         stack during slack periods, hence, reduc-
       The DP World of
       CT3 and ACT
       DP World arrived in Hong Kong in 2004 to take the helm at
       two of the territory’s most efficient terminals
       CT3
       Located in the heart of Hong Kong’s Kwai
       Chung port lies container terminal number
       3 (CT3). It is managed and operated by
       leading global port operator DP World,
       through its majority holdings in a Hong
       Kong registered company owning the
       terminal.
            CT3 has been in operation since
       1973 and has historically been one of the
       most productive terminals in Hong Kong.
       Recording up to 40 moves per hour has put
       CT3 at the head of the pack in a cluster of
       terminals well known around the world for
       their speed and efficiency.
            CT3’s highly skillful and experienced
       staff operates a powerful combination of
       comprehensive computerized systems and
       world-class container handling equipment
       to deliver high productivity to both ship
       exchange and gate operations.
            DP World took over CT3 in 2005, with
       the merging of Dubai Ports Authority and
       Dubai Ports International and an aggressive
       expansion plan. DP World set about making             Over and above a tractor turnaround of         The automated gate, wireless data cov-
       the most of the single berth operation by        less than 30 minutes, CT3 also boasts in and   ered yard and the fine-tuned system intel-
       employing one of the territory’s largest shore   out gate transaction traffic of 3,200.         ligence guarantee that customers are kept in
       cranes with a huge outreach of some 22 con-           CT3 employs advanced AVR technology       a real-time information loop while ensuring
       tainers wide and a maximum lifting capacity      and an EDI system that automates supply        CT3 interacts seamlessly with the dynamic
       of as much as 65 tons.                           chain logistics processes                      operating environment and all its partners.
                                                                                                       It is well recognized by the industry for its
                                                                                                       high crane rates, short truck turn time and
                                                                                                       fast container dispatches, all of which trans-
           Established:                                     1973
                                                                                                       late into real cost savings and operational
           Number of berths:                                1
                                                                                                       benefits to its customers.
           Quayside length:                                 305 metres
           Cranes:                                          4 quayside gantry cranes                   ACT
                                                            8 rubber-tyred gantry cranes               DP World is also the principal shareholder
                                                            14 bridge cranes                           and operator of Asia Container Terminals
           Depth alongside:                                 14 metres                                  Ltd (ACT) the terminal of Berth number
           Capacity:                                        1.2m teu
                                                                                                       8 West. ACT is a Hong Kong-registered
                                                                                                       company. ACT took over operations at the
           Total area:                                      16.7 hectares
                                                                                                       two container berths at terminal 8 west in
2004, making it a part of the DP World             2010 for devotion towards safety, productiv-      on customer service, safety and care of the
global terminal network since then. ACT is         ity, efficiency and value-added services.         environment. ATL’s customers include blue
a premier terminal facility, combining DP                                                            chip multinational corporations and Fortune
World’s global terminal expertise, a superb        ATL Logistics Centre                              500 companies involved in various aspects of
physical location, with the latest equipment       Besides the container terminals, DP World’s       the logistics and distribution business. They
and technology and capability of handling          investment in Hong Kong includes ATL              are all market leaders in their respective
the largest container vessels in a safe, effec-    Logistics Centre Hong Kong Ltd (ATL),             industries.
tive, and efficient manner.                        which owns and operates ATL Logistics
     ACT pursues continuous improvement            Centres – the world’s first and largest intel-    Key features and competitive advantages
in reliability and the flexibility of the opera-   ligent multi-storey drive-in cargo logistics      offered by ATL include
tion systems, reducing turnaround time,            centre. Conveniently located in Kwai Chung        • Strategic location (within the container
improving productivity and lowering costs,         Container Terminals and within easy reach             port, 20 minutes to the airport and
streamlining logistics workflow and the pro-       of Hong Kong’s commercial and population              direct connection to major highways
vision of more value-added services. ACT           centres and airport, as well as the main-             linking to all parts of the territory)
is well recognized by the industry witness         land border, ATL Logistics Centre offers          • Direct vehicle drive in access (every floor
the receipt of such awards as “Best Con-           warehouse and office leasing, as well as a full       is like a ground floor)
tainer Terminal (Asia) – Under 4m teu per          range of cargo handling, container freight        • Ample public vehicle holding areas
Annum” by the AFSCA (Asia Freight and              stations (CFS) and distribution services.         • Expandability (larger floor plate of
Supply Chain Awards) in 2008, and “Safety               ATL is an acknowledged leader in the             300,000 sq ft to 400,000 sq ft.)
Performance Award by the Hong Kong                 provision of best-in-class logistics facilities   • Elevated warehouse for direct loading/
Occupational Safety and Health Council in          and services. The company prides itself               unloading
                                                                                                     • High ceiling height of 17 ft. and 25 ft
                                                                                                     • High floor loads of 350 lb/sq ft to
                                                                                                         450 lb/sq ft.
    Established:                                       1993
                                                                                                     • Comprehensive traffic management
    Number of berths:                                  2
                                                                                                         system
    Quayside length:                                   740 metres                                    • Full CCTV coverage and 24-Hour
    Cranes:                                            8 quay gantry cranes                              security guard patrols
                                                       20 rubber-tyred gantry cranes                 • Full amenities:
    Depth alongside:                                   15.5 metres                                        – restaurants
    Capacity:                                          2m teu                                             – convenience stores
                                                                                                          – convention and recreational
    Total area:                                        28.54 hectares
                                                                                                               facilities
       T
                 he COSCO-HIT terminal in               maintains that full automation is not an           Clearing the skies
                 Hong Kong also handles around          option. The task in hand is a dynamic one          COSCO-HIT has played an important
                 10% of the throughput at the           that requires staff to take different actions to   strategic role in reducing airborne pol-
                 world’s third busiest container        cope with different situations.                    lution at its operations. Starting in April
       port of Hong Kong.                                    The company has conducted studies             2008, COSCO-HIT switched from in-
                                                        and makes efforts in processes where partial       dustrial diesel to ultra low sulphur diesel
       Success factor                                   automation is practicable, for example in          for all its equipment and internal trucks
       An obvious component in COSCO-HIT’s              shipping data processing, quayside system          and other vital vehicles. “This helped to
       success has been the speed with which it         facilitation operations such as with the trac-     significantly reduce carbon and sulphur
       delivers its services. Currently the facil-      tor appointment system and CCTV.                   emissions from the terminal,” said a
       ity achieves around 29 moves per hour.                Even faster movements have been               COSCO-HIT spokesperson.
       COSCO-HIT has maintained this level up           achieved through a process of reengineering             But the company was not entirely satis-
       to today despite the changing infrastructure     and information technology has been a criti-       fied. Instead it decided it would push the
       of container vessels. Nowadays, more mega        cal component. But new, larger vessels, and        environmental envelope further by begin-
       vessels are in service and new facilities have   a shortage of back up land, which is shared        ning a programme of converting its fleet of
       had to be deployed to match the needs.           by all the operators, can limit the opportuni-     rubber-tyred gantry cranes from diesel to
            While some functions at the termi-          ties to further speed up the movement of           electricity. By the third quarter of 2011, a
       nal have been automated COSCO-HIT                containers.                                        total of 22 RTGCs had been converted. A
                                                                                                           further five RTGCs were equipped with a
                                                                                                           hybrid system in 2009. COSCO-HIT said
           COSCO-HIT TERMINALS (HK) LTD
                                                                                                           that in the second quarter of 2012 it laid
                                                                                                           down a plan to complete the conversion of
           Established:                                     1994
                                                                                                           the last five RTGCs from diesel to electricity
           Number of berths                                 2
                                                                                                           in 2013.
           Quayside length:                                 640 metres                                          COSCO-HIT left no stone unturned in
           Barge berth length:                              448 metres                                     its ambitions to conserve energy, coming up
           Cranes:                                          9 container cranes                             with a scheme to install 426 units of “elec-
           Rubber-tyred Gantry Cranes                       32                                             tronic ballast” high pressure sodium lamps
           Jib cranes:                                      4
                                                                                                           on 22 electric RTGCs and 4 rail mounted
                                                                                                           jib cranes in the third quarter of 2011. High
           Front loader:                                    2
                                                                                                           pressure sodium lamps have been converted
           Top lifter:                                      1
                                                                                                           from electromagnetic ballast to electronic
           Depth alongside:                                 15.5 metres                                    ballast. This helps to reduce energy con-
           Total area:                                      30 hectares                                    sumption and improve power quality. Two
Electric future
Looking to the future, COSCO-HIT said
electric cars are the major green project.
Electric vehicles will replace most of the
existing diesel driven vehicles for terminal
patrol and equipment maintenance before
2020.
     LED is another new technology being
explored to replace the high-pressure sodium
floodlights, are now widely used for yard
and crane lightings. By replacing them the
company has achieved over 30% electrical
energy saving which indirectly reduces the
carbon dioxide emission.
                                      New frontiers.
                     Opening new markets. Driving innovation. Pushing boundaries.
                                With the relentless spirit of pioneers.
       Terminal operator
       representation
       The HKTCOA is a positive force for port
       development in Hong Kong
       W
                        hen a prominent executive        factories to Hong Kong.
                        from a leading port operator     It costs approximately
                        in Hong Kong takes the op-       US$200 more to truck
                        portunity of a recent confer-    a 40’ container from
       ence to air his views on the problems arising     Dongguan to Hong
       out of the arrival of super containerships, it    Kong versus trucking
       can be guaranteed that it will become a sub-      the same container to
       ject for the deliberations of the Hong Kong       Shenzhen port. This
       Container Terminal Operators Association.         higher trucking cost is
            Many of the ultra-large containerships       a major cause for cargo
       now arriving in Hong Kong waters (the             migration to South
       16,000 teu CMA-CGM Marco Polo arrived             China.”
       for the first time on October 12, 2012) are            In order to fill the
       too long for the single berth at container ter-   gap caused by the loss
       minal three. This prompted the suggestion         of direct import and
       that Hong Kong’s terminal operators may           export cargo, terminal
       have to indulge in some consolidation.            operators redirect their focus on getting               Terminal storage
            Although HKCTOA chairman Alan Lee
       was unable to comment on the individual
                                                         more ocean vessel-to-vessel transshipments.
                                                              “Such international transshipment con-
                                                                                                                 land area is on
       concerns of his members, outlining the main       tainers very often require longer dwell time            average 40%
       role of the HKCTOA seems to suggest that          in the terminals and therefore the terminals            deficient when
       the subject will arise at sometime in the         require more yard and back-up space to sup-
       future. The aims of the HKCTOA are:               port their berth operations,” said Mr Lee.              measured against
            To maintain and enhance the competi-              “Terminal storage land area is on average          berth length
       tiveness of the Hong Kong container port by       40% deficient when measured against berth
       promoting initiatives to increase operational     length using an internationally recognized
       productivity and efficiency.                      ratio of 25 hectares per 400m of berth,” he      logistics industry by enhancing the port’s
            Promote and coordinate terminal              added.                                           competitiveness through allocating more
       operators’ initiatives to maximize the use of                                                      adjacent land to redress the deficiency in
       container terminal facilities in Hong Kong.       Barge traffic up – a                             terminal back up yard area. It is hoped that
            Promote the Hong Kong container              positive                                         by allowing adjacent land to be annexed to
       terminals’ competitive advantages                 “In the meantime, there is increasing barge      the terminals it can increase the container
            Discussing the main concerns of HKT-         traffic between the Pearl River Delta and        handling capacity at the lowest cost, which
       COA members Mr Lee said: “The business            the Port of Hong Kong. But due to shortage       will help to enhance the competitiveness of
       model of Hong Kong container port has             of barge berths, the barges experience long      the Port.
       changed dramatically in the last few years.       waiting time for berthing. The increasing             In addition, terminal operators also
       Its market share in handling value-added, di-     use of barges in fact can help to bring more     request Government to reserve nearly water-
       rect import and export containers for South       traffic from the Pearl River Delta. It is both   front sites as barge berth to cater for barge
       China has dropped from 90% to 30%.                more economical and more environmentally         operations between Kwai Tsing port and the
                                                         friendly.”                                       Pearl River Delta region.
       High trucking costs                                    The terminal operators (through the              Essentially, this will enable terminal op-
       “This is because of the higher trucking cost      HKCTOA) have been lobbying the Gov-              erators to undertake long term planning and
       of moving containers from South China             ernment to actively support the container        get the best use of existing facilities.
T
            he 2011 edition of the Port of      and friendly staff, customer oriented policy,      New quality requirements
            Hong Kong Handbook & Direc-         registration fee reductions, and procedures        But despite a hard earned reputation for
            tory noted that the Hong Kong       simplication. Meanwhile, beyond the                quality, the Register is not resting on its
            Shipping Register had entered       ambit of the Marine Department, other              laurels. In 2004, the Marine Department
tonnage of 66m GT. Just 12 months later,        important measures include an increase in          introduced its Pre-registration Quality Con-
the figure has risen to 78m GT, a staggering    double-taxation agreements and a reduction         trol System. The system requires that ships
increase of 12m GT over the year.               in tax paid by Hong Kong shipping compa-           wanting to apply for registration are subject
     There are of course economic reasons       nies if the ship has not been detained under       to checking by the Marine Department’s
for this. In 2009 a splurge of newbuild-        PSC inspections in the past two years.             cargo ship safety section and the quality
ing activity went on in anticipation of a            But for shipowners to benefit from            assurance section with regard to the ship’s
boom in shipping which sadly has yet to         such incentives there is a price; it is quality.   past record. If there is any doubt about the
occur. With China being at the heart of         Ships on the Register have a lower deten-          ship the owner must arrange for a pre-
global shipping today, many of the                                                                  registration quality inspection. Since 2011,
newbuildings that have been hitting                                                                 failure to pass the quality demands of the
the water in the last 12 months                                                                     inspection will mean that the owner will
are owned by Mainland and Hong                                                                      have to wait six months before re-applying
Kong owners.                                                                                        for registration.
     But equally important for the                                                                       At the end of 2012 the Marine De-
rapid growth in entered tonnage                                                                     partment will launch its Quality Assurance
is the much-praised quality of the                                                                  in Shipmanagement System. Wong Sai Fat,
Hong Kong Shipping Register.                                                                        general manger of the Shipping Registry
     The Hong Kong Shipping                                                                         and Seafarers branch of the Marine De-
Register is a national register: this                                                               partment says: “We acknowledge the fact
is clearly illustrated by the nation-                                                               that controlling the quality of the fleet on
ality of the owners with 50% of                                                                     a ship by ship basis with more than 2,000
the tonnage belonging to Hong                                                                       ships on the Register is a mammoth task
Kong-based shipowners and 40%                                                                       and that the quality of the shipmanager is
owned by Mainland shipowners.                                                                       of equal importance.
But foreign owners by virtue of their                                                                    “Under the new system the ship-
registered presence in the territory                                                                manager is required to submit the port
own the remaining 10%.                                                                              state control record of all the ships under
     The Hong Kong Shipping                                                                         management for the Department’s inspec-
Register was established in 1990,                                                                   tion. If the standard is below the Hong
when the territory was still under British      tion rate than most other flag states. This is     Kong average the shipmanager will have to
rule, and the Marine Department set up a        borne out by the Register’s inclusion on the       advise us of the measures he will be imple-
separate autonomous system. But with the        white lists of both the Paris MOU and the          menting in order to attain the required
handover to the Mainland imminent the           Tokyo MOU and its continuing qualifica-            standard.
register grew slowly until certainty returned   tion in Qualship 21, an initiative of the               “Through this mechanism, we shall
in 1997.                                        United States Coastguard. As a result ships        forge a closer working relationship be-
     Registered tonnage has surged in the       entered in the Qualship 21 programme are           tween owners and the department that will
ensuing years as the attractiveness of the      subject to fewer inspections by the USCG           in turn lead to further enhancement of the
Register was enhanced by a team of effecient    whilst in US waters.                               Register overall,” he concludes.
        I
             n the context of increasingly globalised     Sustainable competitive                            benefits such as decreasing the amount of
             supply chains, Hong Kong is clearly          advantage                                          paperwork and improving vehicle utilisation,
             recognised as one of the world’s leading     Hong Kong’s sustainable competitive ad-            thus reducing emissions. Within the cross
             logistics hubs – reflected by its impreg-    vantage as a leading global logistics hub will     border trucking sector, the introduction of
        nable position as ‘The Gateway’ into and          revolve around three pivotal competencies –        electronic submission of road cargo informa-
        out-of mainland China, its role as a de-facto     best in class international transhipment hub,
        Regional Distribution Hub for the Asia            centre of excellence for logistics skills and
        Pacific region, and our pre-eminent status in     leadership in e-logistics.
        global freight as the world’s largest air-cargo        As the world’s leading cargo tranship-
        hub and number three container port.              ment hub, Hong Kong will continue to grow.
             Trade and logistics the largest of the       The International Air Transport Associa-
        economy’s four pillars                            tion (IATA) forecast that Hong Kong will
             The world-class infrastructure and free      continue to be the world’s fastest-growing
        port status are significant ingredients in Hong   air cargo market. It is therefore imperative to
        Kong’s enduring success as a leading logistics    proceed urgently with the airport expansion
        hub. Long established as a regional trading       project, including sustainably building the
        hub and global sourcing centre, “trade and        third runway and associated facilities.
        logistics” is the largest of Hong Kong’s four          From the e-logistics perspective, Hong
        economic pillars, accounting for 24.1 % of        Kong’s increasingly widespread adoption of
        GDP and 24% of employment. The import             e-freight initiatives throughout the interna-
        and export trade employs over 440,000             tional air and ocean cargo sectors is increasing
        people, more than any other business sector.      efficiencies whilst providing environmental                     Mark Millar head of M.Power
     Boom River
     The Pearl River is a natural highway between Hong Kong
     and the Mainland’s manufacturing centre
     R
                 iver trade to and from Hong          together with a marine shuttle lighter service    river courses in and around the Pearl River
                 Kong’s Kwai Tsing container          that links up to the terminals at Kwai Tsing.     delta. Use of low sulphur fuels in recent
                 terminals and the manufacturing           The main features of the terminal,           years has also helped to reduce pollution, an
                 powerhouse in the Pearl Rive delta   which is located close to Pillar Point, to the    important consideration in Hong Kong and
     has long been a valuable alternative to road     west of Tuen Mun, include a 3,000 metre           surrounding waters where air pollution levels
     transport.                                       quay equipped with 27 quay cranes, 30             are a social concern and a political issue.
         Established in 1996, the River Trade         rubber-tyred gantry cranes, 12 reach stack-            Unfortunately, river trade has not
     Terminal was the first operation purpose-        ers, 22 frontloaders, 26 forklifts and 408        been renowned for its profitability. Today
     built for river trade cargo, and remains the     reefer plugs for cool cargoes.                    increased fuel and labour charges are biting
     only facility to this day.                            The River Trade Terminal is con-             deeper into already thin margins.
                                                      tinuously upgrading its computer systems,              Thus far however, the business has been
     Perfect partnership                              terminal facilities and equipment to enhance      sustainable. Three major mid-stream opera-
     Hong Kong’s River Trade Terminal benefits        productivity and provide additional value-        tors are owned by Hutchison Port Hold-
     from the joint ownership of Hutchison Port       added services to its customers. By combin-       ings and another two operators are under
     Holdings, one of the world’s leading port        ing the advantages of strategic location and      the control of Jardine Matheson and SHK
     operators, and Jardine Matheson Holdings         operational excellence, RTT has become a          Properties. Due to this connection between
     a renowned trading house. The third stake-       key logistics hub for the Pearl River Delta.      the parties involved in the river trade, mid-
     holder is Sun Hung Kai Properties. Cosco,                                                          stream operations and the conventional
     China’s largest shipping line, sold off its      Advantages                                        container terminals in Kwai Tsing, competi-
     10% stake in the venture some years ago.         The greatest rival for river trade is of course   tion has not been fierce.
          The experience and deep pockets of the      the thousands of trucks that provide the
     companies involved has ensured that the          same cross border carriage services. Indeed,      Threats
     facility boasts cutting edge equipment along     trucking is still the preferred mode of transit   Where the danger lies for the river trade
     with the latest IT communications and data       for the majority of shippers. But river trade     business is in the gradual elimination of
     processing systems to provide a 24/7 work-       does have its advantages. The sheer size of       the cause of its establishment; that is road
     ing environment. Services include container      the vessels offer economies of scale: for the     congestion. Since the terminal started
     handling and storage, approved storage of        same reason they also provide greater flex-       operations in 1996, an increasing number of
     dangerous goods and dutiable products, a         ibility in the cargoes they are capable of car-   land-based crossing points have appeared or
     container freight station, reefer container      rying, break bulk cargo in particular is more     are in development.
     storage, container maintenance and repair,       suited to the barges navigating the various            Work is going ahead on a new border
                                                                                                        control point at Liantang/Heung Yuen Wai
                                                                                                        and should be in operation in 2018.
                                                                                                             But the most important development is
                                                                                                        the construction of the 50-kilometre Hong
                                                                                                        Kong-Zhuhai-Macao Bridge. The world’s
                                                                                                        largest bridge project will extend Hong
                                                                                                        Kong’s catchment area to the western section
                                                                                                        of the Pearl River delta, serving more than
                                                                                                        50 million customers across the region. The
                                                                                                        improved connectivity will greatly expand
                                                                                                        Hong Kong’s cargo hinterland, open up new
                                                                                                        consumer markets and boost freight and
                                                                                                        logistics activities. It also forms the greatest
                                                                                                        threat to the river trade terminal since its
                                                                                                        inception 18 years ago.
       T
                   he state of the global economy is     dips in ship values. With little opportunity          In the People’s Republic of China, the
                   changing so rapidly that news can     to enforce their security if the loan to value   bank regulators have the delicate task of con-
                   become outdated in a short space      ratios are breached (there are few buyers at     trolling inflation and ensuring their banks
                   of time. At the time of writing,      present and those that require bank loans        can cope with stress tests, yet at the same
       shipping is going through one of its periodic     are obliged to contribute at least 50% of        time they cannot afford to strangle domestic
       downturns, with new tonnage still being           their own equity), the new loan terms being      growth. Recently there have been signs that
       added to each sector and insufficient cargo       offered by banks over 2012 and 2013 will         the percentage of capital required to be held
       to match the supply. At the same time,            require a considerable cushion. Shipowners       by banks is being relaxed one or two percent-
       purchasing and forwarding agents have no          will have to accept that the days of 50 basis    age points but this has not yet resulted in in-
       confidence as to the correct                                                                                  creased lending. Concerns about
       quantities of oil and staple                                                                                  non-performing loans still exist,
       products to buy ahead due                                                                                     particularly in the shipbuilding in-
       to uncertainties in Europe                                                                                    dustry, which has had to be reined
       over the austerity measures                                                                                   in to stop the flow of new ships.
       imposed by EU members                                                                                         Controls have been introduced so
       to avoid bank and sovereign                                                                                   as to limit which banks can issue
       defaults, whilst in America                                                                                   refund guarantees with the intent
       and China a move towards                                                                                      that smaller yards will have to
       saving rather than spending                                                                                   merge or close in a measured man-
       (amongst other develop-                                                                                       ner, so as to minimise legal claims
       ments) has triggered a down-                                                                                  and unemployment.
       ward adjustment in GDP
       projections in Asia. The third
       leg of this perfect storm is the                                                                             Tougher terms
       absence of capital being made                                                                                 To conclude, the cycle of over-
       available by banks, despite the                                                                               ordering is nearing its apex and a
       liberal printing of new cash.                                                                                 period of 18-24 months is needed
       Borrowing on the inter-bank                                                                                   for global growth to catch up and
       markets has become increasingly more              points over LIBOR are no longer possible,        overtake the current supply and availability
       expensive, harking back to 2008 when the          even for the strongest companies.                of ships. For experienced shipowners and
       London interbank offered rate was far less            In Hong Kong, local and European             speculators alike, there will come a time
       than the real cost of funds to the majority       banks have countered their inability to bor-     within this period when values for new
       of banks.                                         row in the interbank market by re-offering       eco-friendly ships and young second-hand
            The resulting effect has been a need for     funds that have been repaid or prepaid by        tonnage from respected yards will become
       banks to re-capitalise and a slowing of funds     their existing shipping customers. They          attractive once again and a new cycle will
       being released into the shipping sector, not      have been able to re-cycle a portion of their    begin. For those requiring ship finance,
       helped by high profile defaults and falling       substantial loan books built up over the last    the availability of funds in Hong Kong and
       ship values. Those shipping banks that            10 years, but now at more profitable rates.      China will however be subject to tougher
       are well funded by their shareholders and         Alternative methods of funding (such as          terms.
       bondholders (or governments) are continu-         securitisations, shipping funds, private
       ing to lend because they can command              equity and seller credits) have yet to gather
       higher margins, sizeable front end fees and       momentum as the shipping market is too           This article was written by Dean Young, a
       plenty of collateral to take account of further   volatile.                                        senior consultant at Mayer Brown JSM
Vital link
Hong Kong’s shipbroking community plays a vital role in the
smooth running of the territory’s shipping business
C
            larkson Asia Ltd, the Hong Kong
            branch of the global shipbroker,
            is one of the more high profile
            examples of the shipbroking
business in the territory: this year is the 25th
anniversary of its arrival here.
     But there are around 20 individual ship-
broking houses in Hong Kong and many
more brokers working within shipping and
shipmanagement companies.
     While it is not a statutory requirement
for shipbrokers to be qualified, the Profes-
sional Qualifying Examinations, set by the
Institute of Chartered Shipbrokers is much
                                                                                                        Pacific Basin relies on its in-house
valued in Hong Kong. Preliminary qualifica-                                                                      brokers to secure cargoes
tions include the Foundation Diploma and
the Advanced Diploma. But it is only once
a shipbroker has gained the PQE qualifica-         each that will help students prepare for ICS         But Hong Kong remains one of the best
tion that he/she can join the Institute of         examinations. It is important to note that       markets in a downturn, particularly in the
Chartered Shipbrokers.                             unlike in the UK, Hong Kong does not             Sale & Purchase and Newbuildings sectors.
                                                   charge for its education programme.
ICS to get a makeover                                   “We do not charge for the tuition even      Outlook
The new chairman of the ICS in Hong                to those who are not formally our students,”     One of Hong Kong’s more high profile
Kong Y K Chan is particularly keen on lur-         said Mr Chan. “The important thing is            shipbrokers Clarkson Asia managing direc-
ing young talent to the prestigious institu-       that we encourage those involved in the          tor Martin Rowe explains that while Hong
tion. “I think it is very important that we        profession to be as educated and up to date      Kong shipowners were as excited as others
introduce young blood even at the executive        as possible.”                                    about the shipping boom that ran from
committee level,” he said.                              Pacific Basin Shipping Ltd, one of Hong     2005 to 2008, rather than splash the cash on
    “Some of our older members are in              Kong’s leading dry bulk specialists, with        high priced vessels they simply earned higher
senior positions and consequently extraordi-       a large fleet of handymax and handysize          revenues from their existing fleets.
narily busy. I know younger shipbrokers will       vessels, presents a good example of a large           “Now, when floating assets are touch-
also have a lot on their plate but with their      operator that employs its own in-house team      ing bottom the same traditional shipowners
energy they can make a big contribution,”          of brokers. Working full-time in acquiring       are once again looking for a bargain(s). But
he adds.                                           cargoes for the fleet, their ability to secure   newbuilding orders are now few and far
                                                   back-haul cargoes can greatly increase the       between as a combination of coy shipown-
Calling young talent                               value of a long-term charter, and explains       ers waiting for a spike in the market and
With younger people in mind Mr Chan is             much of the company’s success in a very          shipbuilders under financial pressures meet,”
moving to update the online presence of the        difficult market.                                he said.
ICS in Hong Kong and organizing more for-               Counter-intuitively it could be said that        The general consensus among ship-
mal and informal activities. In October there      there is no better time to join the ship-        owners, shipbrokers and analysts is that a
was a meet the executive committee event,          broking business. The market may be close        healthier market where supply and demand
followed by a series of seminars in Novem-         to rock bottom but then (hopefully) the only     is close to equilibrium would probably oc-
ber and a Christmas party being arranged           way is up. Those graduates who joined at the     cur in 2014. So now could be a good time
for December.                                      height of the shipping boom around 2005,         to join the ranks of the young professional
     From the end of October the institute         joined on the crest of a wave that has since     shipbrokers in one of the best markets in the
has set up six tutorial sessions of three hours    subsided much to their disappointment.           world.
     Different paths to
     settlement
     Hong Kong offers a variety of legal platforms to resolve disputes
     H
                  ong Kong has always stood tall     Admiralty Court is a dedicated Admiralty        to some of the best international maritime
                  in the region due to its freedom   Judge a situation that is not shared in other   legal practices: The following list is thor-
                  of expression and the rule of      jurisdictions such as the US.                   ough if not exhaustive:
                  law. As a result of Hong Kong’s         Shipping disputes frequently involved          Blank Rome, Clyde & Co, Holman
     role as an international trading and shipping   parties from different countries, Hong          Fenwick, Howse Williams Bowers, Ince
     hub, participants in the shipping industry      Kong maritime law is based upon English         & Co, Keesal, Young and Logan, Mayer
     have recourse to a range of legal channels      maritime law, which is widely agreed to         Brown JSM, Norton Rose, Reed Smith
     through which to seek resolution of claims      be the best body of law for international       Richards Butler, Stephenson Harwood, and
     and disputes.                                   contracts.                                      Watson Farley & Williams.
         Hong Kong has long had an Admiralty              Sadly many companies find at some              Many of the maritime lawyers within
     Court to deal with claims and disputes          stage they will have to resort to litigation.   the practices referred to above and the
     of a maritime nature. At the head of the        But on a positive note Hong Kong is home        barristers that work in the city are available
                                                                                                     as maritime arbitrators or will be happy to
                                                                                                     refer clients to others. This leads us in to
                                                                                                     the first of two alternative means of dispute
                                                                                                     and claim resolution.
                                                                                                     Arbitration
                                                                                                     Following the lobbying of prominent, local
                                                                                                     business and professional people, the Hong
                                                                                                     Kong International Arbitration Centre was
                                                                                                     established in 1985. In the intervening years
                                                                                                     it has come to be compared favourably with
                                                                                                     the other prominent international arbitra-
                                                                                                     tion centres in London and New York.
                                                                                                          The purpose of the HKIAC was to pro-
                                                                                                     vide an alternative method for resolving dis-
                                                                                                     putes effectively, efficiently and at reduced
                                                                                                     costs. As such its doors are open to all busi-
                                                                                                     nesses and has been found to be particularly
                                                                                                     effective in helping to resolve disputes that
                                                                                                     frequently arise out of contracted shipping
                                                                                                     activities i.e. charterparty disputes.
                                                                                                          Through the increasing acceptance of
                                                                                                     the concept of alternative dispute resolution,
                                                                                                     the HKIAC has grown both in stature and
                                                                                                     physical size. In October 2012 the HKIAC
                                                                                                     moved to new premises in Exchange Square
                                                                                                     at the heart of the territory’s business district.
                                                                                                     The new site is, at 13,000 sq ft, nearly
                                                                                                     double the space afforded to the first centre.
                                                                                                     More importantly HKIAC now boasts
                                                                                                     around 400 arbitrators of whom about 25
                                                                                                     are experienced maritime arbitrators with
       The Hong Kong Legislature Building
                                                                                                     impeccable experience of the subject.
D
             espite being small by Chinese              Instead, the local shipbuilding industry     ness, HUD has proposed to build a second
             standards, Hong Kong’s ship           is focused on building junks and pleasure         floating dry dock that would be capable of
             repair sector plays a crucial role    craft. Ken Lo Ngok-yang, a director of            servicing mega container ships of at least
             in the territory’s maritime sector,   Cheoy Lee, says the shipbuilder would de-         10,000 teu. But the dock, which would require
according to Lung Chi-kok, a former ship           liver around 13 ships this year including tugs    millions of dollars to build, needs the approval
repair boss.                                       for Hongkong Salvage & Towage, from its           of both its shareholders, Swire Pacific and
     Mr Lung, who retired about a year ago         main shipyard at Doumen near Zhuhai.              Hutchison Whampoa. And while Swire Pacific
as managing director of Hongkong United                 But the ship repair sector is facing         is supportive, Hutchison HUD, which is capa-
Dockyard, says ship repair operations sup-         several key challenges including a shortage of    ble of repairing up to 40 ships a year, estimated
port other activities in the harbour including     trainees, skilled manpower and a downturn         it was losing 10 vessels a year because they were
the container port and cruise liner business.      in business caused by the slump in the global     too large for the firm’s existing dry dock.
This is especially important given the devel-      shipping industry.                                     Yiu Lian Dockyards does not have
opment of the new cruise terminal at Kai                Pointing to the impact of the downturn       the same issue because larger ships can be
Tak where cruise ships up to 220,000 gross         on HUD, JB Rae-Smith, director in charge          handled at its repair facility at Shekou, about
tonnes will berth from next year.                  of marine services at Swire Pacific, says the     30km from Tsing Yi on the western side of
     HUD, together with Yiu Lian Dock-             ship repair business posted a net loss in the     Shenzhen.
yards, are the two major ship repair com-          first half of 2012 as a result of less business        But both companies are facing a shortage
panies in Hong Kong capable of handling            and higher labour costs. “Three dockings          of labour as they compete with other indus-
container ships up to 6,500 teu and ships up       which were expected from a customer did           tries including construction and engineering
to panamax bulkers in size at their facilities     not take place. The replacement dockings          for trainees and skilled welders, electricians
on Tsing Yi. Both firms have dry docks that        did not deliver satisfactory margins,” he says.   and other specialists. Skilled workers have
can accommodate ships up to 300m long,                  Mr Rae-Smith adds: “Commercial pres-         been brought in from abroad including
while there is also scope to double bank ves-      sures on major European and US shipping           Singapore for short-term projects although
sels depending on demand.                          companies and the shipping industry’s move        a longer-term solution is seen as necessary.
     HUD is a 50:50 joint venture owned            to larger container vessels has led to the loss   Attempts have also been made to recruit more
by Swire Pacific and Hutchison Whampoa,            of a number of high margin customers. The         women because they took more care and
while Yiu Lian Dockyards is controlled by          division needs to be more efficient if it is to   made better welders, painters and electricians
China Merchants Industry Holdings, an              compete with other Asian ship repairers.”         but it is recognised working conditions can be
offshoot of the larger 140-year old mainland            In an effort to maintain its competitive-    dirty and sometimes difficult.
ports, banking and property conglomerate.
     Repairs to high-speed passenger ferries
operated by firms including Shun Tak, New
World First Ferry and Chu Kong Shipping,
are carried out at a raft of smaller docks
on Stonecutters Island. Ship construction
though has virtually disappeared.
     Several of Hong Kong biggest ship-
builders, such as Cheoy Lee Shipyards, have
offices in the locality where orders can be
negotiated and agreed, but shipbuilding is
done at large shipyards across the mainland
border in the Pearl River delta, although
some final fitting out could be done in
Hong Kong.
     Alternative discharge
     Hong Kong’s unique mid-stream operators are holding on in a
     harsh environment
     T
                 he barges that undertake Hong
                 Kong’s unique practice of ‘mid-
                 streaming’ – that is loading or
                 unloading container cargoes from
     vessels anchored at sea or in the nearby river,
     while the ships are in transit to or from a
     nearby port – is as iconic as the territory’s
     trams or Star Ferry.
         Mid-streaming may have more recent
     origins than that of the trams or the Star
     Ferry. This is because the advent of the
     practice is deeply integrated wit the arrival of
     containerised traffic in the 1960s and 1970s.
     From those early days until the present
     Mid-stream operators have been able to offer
     a cheaper alternative, to the Kwai Tsing Ter-
     minals that due to the high cost of land and
     operations are expensive even in comparison
     with other ports in the region.
     Niche provider
     One of the key attractions of the mid-             shipping having extended to 2012, and fore-       put handled by mid-stream operators fell
     streaming model has been its ability to fill       cast to last at least another three years liner   17.4% to 4.319m teu.
     a niche in Hong Kong’s growing transship-          operators have sought many ways to reduce              At its peak at the turn of the century,
     ment business. Cargoes being transferred           costs, most notably with the introduction         mid-stream operators would regularly
     to smaller vessels or feeder ships that will       of new mega ships capable of carrying up          command as much as 30% of the overall
     subsequently navigate the waters of the            to 18,000 teu. A natural progression from         throughput at Hong Kong. This is no longer
     Pearl River find the use of mid-streaming          this has been to cascade vessels previously       the case. These blows to the niche industry
     barges convenient and cost effective. The          used on long haul routes to regional or           have been felt in a reduction in the size of
     availability of alternative pier space has also    coastal traffic. Invariably these vessels are     the fleet in recent years, which may spell the
     historically been a plus.                          larger (4,000 teu – 6,000 teu) than the old       first steps in continuing decline. But with an
          But unlike the other Hong Kong icons          feeder vessels. The fleet of barges deployed in   expected 5.5m teu handled in 2012, Mid-
     cited above, mid-streaming is not a tourist        mid-stream operations in Hong Kong tends          stream operators still outstrip many regional
     attraction but part of a logistics chain that is   to have the capability of handling vessels up     ports in productivity. They will still have a
     subject to constant change and innovation.         to just 3,000 teu. This disparity is appar-       role to play for some years yet.
     Change can be temporarily disruptive as in         ent in the most recent throughput figures
     the case of the shipping crisis in 2008 when       published by the Hong Kong Port Develop-          The players
     shipping and handling prices slumped and           ment Council.                                     The Hong Kong Mid-Stream Operators As-
     the small companies behind most mid-                                                                 sociation established in 1999, represents and
     streaming operations were unable to restore        Feeling the pinch                                 seeks to protect the interests of its members
     revenues while simultaneously battling with        The port of Hong Kong generally is feeling        who work from 12 separate locations across
     increased labour and fuel costs.                   the pinch of the economic crisis in Europe        the territory including West Kowloon,
                                                        and the US but in the first nine months of        Stonecutters Island, Tsing Yi and Tuen Mun.
     Long term challenge                                2012, the Kwai Tsing terminals at 13.193m         Key player in the industry include Fat Kee
     A more permanent disruption to mid-                teu managed to squeeze out a 1.5%                 Stevedores Ltd, Tai Wah Sea/Land Heavy
     streaming operations is the changing nature        increase in throughput compared to the            Transportation Ltd, Transward Ltd, and Ho
     of commercial shipping. With the crisis in         same period in 2011. By contrast through-         Yat Logistics Co Ltd.
The birthplace of
shipmanagement
Shipmanagement has a long history and a high reputation in
Hong Kong
I
     t can be argued that third party ship-      Tanker trust                                    choose the important functions they need
     management began in Hong Kong               In 2012, Anglo-Eastern Ship Management          to complete their operations.
     in the early 1970s. The pioneer was         pulled off a coup when it entered into a             Like all of Hong Kong’s reputable
     Captain Charles Vanderperre, a Belgian      partnership with major New York-listed          shipmanagers Fleet Management has
émigré who arrived in Hong Kong in 1969          tanker operator Teekay, which effectively put   benefited from the remarkable number of
to work for Wallem. After transforming the       a sizeable portion of its tanker fleet under    vessels that have been emerging from the
company into a first class shipmanagement        the management of Anglo-Eastern. The            region’s shipyards in the last few years. Fleet
company, he went on to found Univan Ship         move was seen as a significant triumph for      management now manages more than 260
Management in 1973. He stood at the helm         Anglo-Eastern, which has a network of 18        ships, having taken on board about 27 ves-
for the next 36 years until his death in 2009.   shipmanagement, crew training and support       sels this year.
     During the intervening years the            offices where it employs more than 16,000            Fleet’s managing director Kishore
concept grew with the arrival of others          seafarers and shore staff overseeing over 400   Rajvanshy speaks with authority about the
such as Fleet Management, Anglo-Eastern          ships owned by international owners.            challenges of operating a large fleet that is
Ship Management and Bernhard Schulte                  Recognising that a third party ship        subject to constant regulatory and techno-
Shipmanagement (Hong Kong) Ltd.                  manager could help a company like Teekay        logical change. Ballast Water Treatment sys-
Between them have around 1,500 ships             operate those ships more cost effectively       tems are a case in point: the International
under management; all rank among the top         and efficiently marks a big culture change      Maritime Organisation wants to make the
shipmanagers in the world.                       among major tanker owners.                      installation of these systems mandatory by
                                                      In the difficult conditions that prevail   2016, but the industry has been caught on
                                                 in the shipping industry at present, in         the hop.
                                                 terms of low profit margins and a prolif-            “It is an area where little progress
                                                 eration of regulatory demands, it often         has been made,” says Mr Rajvanshy. “As
                                                 makes sense to put floating assets under the    managers we have to advise owners how to
                                                 management of a third party shipmanager.        get this implemented and recommend what
                                                 That way an owner may benefit from the          type of equipment should be installed and
                                                 cost savings that can be achieved through       how. The problem is there are not enough
                                                 the economy of scale that a major third         options at hand. The equipment available
                                                 party shipmanager enjoys. The owner can         in the market is very basic and nobody
                                                 also pass on the burden of complying with       has come up with a proper solution to the
                                                 an increasingly onerous regulatory regime.      requirement,” he concludes.
     Port in a storm
     The Hong Kong Shipowners’ Association has been an
     important support to its members for more than 50 years.
     I
          n his foreword to the latest Hong Kong     •   Sanctions against Iranian tankers             they arrive at the airport they have just 14
          Shipowners’ Association’s yearbook, past   •   Piracy                                        days in the territory, which is ridiculous. By
          Hong Kong chief executive Tung Chee        •   Double taxation agreements                    arriving by ship they can stay as long as the
          Hwa outlines what he sees as the chief     •   Inland Revenue Ordinance as it applies        ship stays. It’s an untenable situation,” says
     purpose of the Association: “to promote             to territorial taxation                       Mr Bowring.
     and protect the interests of the Hong Kong      •   Place of Trading contracts
     domiciled shipowners and shipmanagers as        •   Immigration                                   On the world stage
     well as the increasing number of local pro-                                                       The HKSOA is also actively involved in
     fessions and services upon whom they rely in    Commenting on just a few of these tough           international shipping regulation through its
     the performance of their businesses.”           topics Mr Bowring says that the Revenue           participation in debates within the Interna-
          Mr Tung deftly hits the nail on the        Ordinance has resulted in more audits being       tional Chamber of Shipping and ultimately
     head and yet the HKSOA is so much more          done on companies “which is not particular-       the International Maritime Organisation.
     than that. Through its close involvement        ly helpful” and is hindering Place of Trading     The Association is also a member of the
     with the most important maritime bodies         contracts.                                        Asian Shipping Federation, the International
     in the world, much of the work undertaken            The HKSOA has recently submitted a           Shipping Federation and Intertanko.
     by committee members and the secretariat        paper on the arrest of ships, which concerns          In addition, the Association has close
     eventually contributes to how the global        the Immigration dept.                             working relations with IMO through Hong
     shipping industry conducts its business.             “If seafarers arrive in Hong Kong on a       Kong’s Marine Department, the Internation-
                                                     ship they haven’t officially arrived. It’s only   al Labour Organisation, Bimco, Intercargo,
     A helping hand                                  when they leave the ship that they have           the International Maritime Industries Forum
     Despite the shipping industry sailing close     arrived for immigration purposes. But if          and the International Chamber of Com-
     to the rocks over the past few years – and                                                        merce through the International Maritime
     with a few more years to come according                                                           Bureau.
     to most observers – the membership of the                                                             Mr Bowring is also if the opinion that
     HKSOA has actually increased over the                                                             o be fully functional any trade association
     period. HKSOA membership is currently a                                                           needs to have a counterparty. “If you don’t
     little over 200. HKSOA managing director                                                          have a counterparty it’s very difficult to do
     Arthur Bowring says: “Membership is at                                                            anything. Our counterparty is the Hong
     a good level, probably because people like                                                        Kong government and Beijing.
     the safe port in storm.
           “They appreciate the fact that we are                                                            Despite the “masses of new regulation” a
     going through terrible economic times.                                                            sense of optimism was in the air at the HK-
     There are masses of new regulation coming                                                         SOA in summer 2012, in the run up to the
     up and being members of the Association                                                           election of the HKSAR’s new chief execu-
     gives them a sense of security and a feeling                                                      tive. And as it turned out the HKSOA got
     of community. They come along to our                                                              the candidate it probably wanted – Leung
     events and share in what’s going on with                                                          Chun-ying who was elected on 1 July 2012.
     others and listen to other people and that’s
     a major plus.”                                                                                         Prior to the election C Y Leung had
           In addition to the networking events                                                        openly shown an awareness of the shipping
     that Mr Bowring has alluded to, HKSOA                                                             industry rare in political circles. His research
     is involved in very important lobbying not                                                        institute “One Country Two Systems did a
     only on behalf of its members but the ship-                                                       study on the maritime industry in 2009 that
     ping industry as a whole. During summer                                                           the HKSOA was involved in. Mr Bowring
     2012 the HKSOA was actively contribut-          Arthur Bowring HKSOA managing director            says that a number of ideas raised by the
     ing to the debate on:                                                                             report could benefit the industry. Mr Leung
also gave the maritime sector a mention on     other roles Mr Tung is a member of Hong
his pre-election platform.                     Kong’s Maritime Industry Council, and the
     Post election Mr Lueng’s government       Greater Pearl River Delta Business Coun-
reform proposals included the creation of a    cil. He serves on the Executive Committee
new bureau covering maritime, aviation, lo-    of Intercargo and is chairman of the City
gistics and tourism, which would have taken    University of Hong Kong Center for Trans-
shipping out of the already heavily burdened   port, Trade and Financial Studies Advisory                  Alan Tung HKSOA chairman
Transport and Housing Bureau. Sadly the        Committee. He is a member of the Hong
Legislative Council blocked the new bureau     Kong Polytechnic University Department
in the autumn of 2012.                         of Logistics and Maritime Studies Advisory
                                               Committee.                                   remembered for leading an effort to define
Changing of the guard                               Mr Tung replaced Kenneth Koo, chair-    deliverables for the ASF, so that it could
In 2012, the HKSOA welcomed a new              man and chief executive officer of TCC       grow out of its ceremonial identity and bring
chairman, executive director of Orient Over-   Group. Among a myriad of achievements at     value-added strengths to its members and
seas (International) Alan Tung. Among his      the helm of the HKSOA, Mr Tung will be       the wider community.
       Director of
       Marine Francis
       Liu addresses
       the Joint
       Luncheon
       and Awards
       Ceremony Hong
       Kong Shipowners
       Association
       and Hong
       Kong Marine
       Department 9
       March 2012
Hong
Kong
  >>>歡 迎 辭
   香港港口 –
     在挑戰中持續發展
                                       香港擁有深水港口,加上位處全球及區域船隻航線交匯點的地理優勢,因而崛
                                       起成為繁忙的樞紐港。中國近數十年在經濟上的迅速增長亦促進了香港港口的蓬勃
                                       發展。除此之外,香港的優良制度、方便營商環境、業界的專業精神和承擔,以及
                                       政府和業界之間携手作出遠見規劃,令香港港口的區域樞紐港領先地位得以進一步
                                       鞏固。
                                       為維持香港港口的優勢,香港特別行政區政府一直致力發展航運服務的人才及專業
                                       知識,持續提升港口設施。葵青貨櫃港池及進出航道的挖掘工程現正開展,預計於
                                       2016年完成,以便新一代特大貨輪使用葵青貨櫃碼頭的港口設施。
                                       同時,香港船舶註冊數目亦逐年持續增加,截至2012 年9月,在港註冊的船舶總噸
                                       數達7,860萬,使香港成為全球第四大船舶註冊地。
                                       本手冊提供香港各種港口及航運服務的資料,乃一實用指南。無論對業界,還是對
                                       香港港口的成功故事有興趣的一般讀者,均有參考價值。
                                       運輸及房屋局局長
                                       張炳良教授
     整裝迎變展優勢
                歐洲經濟持續不景氣,亞洲在這期間崛起,成為經濟增長的新動力,為航運和
                物流業帶來新的發展機遇。對香港來說,經本港港口轉運往中國內地的貨物數量,
                增長速度大為加快。然而,與此同時,香港與位處珠三角地區的鄰近港口之間的競
                爭,已變得前所未有的激烈。
                香港能成為舉世知名的國際航運中心,優勢在於擁有世界級的基礎設施、高效全面
                的航運服務、高質素的航運專才,以及與世界各地互通、全球首屈一指的多模式聯
                運網絡。為使香港港口能在競爭激烈的商業環境裏保持優勢,我們致力推行多項利
                便業界營運的措施,其中包括定期檢討港口收費。今年,我們推出了綠色航運計
                劃,讓在香港水域停泊時使用較清潔燃油(含硫量不逾0.5%)的合資格遠洋船,
                可獲減免一半港口設施及燈標費。
                在硬件方面,當局已在進行或籌劃不少可進一步加強香港優勢的工程,例如我們正
                在興建港珠澳大橋,以期把往來珠海與葵青貨櫃港灣的行車距離和時間縮短六成以
                上。此外,兩項有關香港港口發展策略的研究將於今年年底完成,讓我們了解如何
                可更迅速和適切地回應航運業的發展趨勢。
                我們深信,憑着更完善的基礎設施和政策,只要能與業界繼續通力合作,在維持香
                港的區域樞紐港地位方面,定能事半功倍。
                本手冊內容豐富,提供大量有關香港港口的資訊和數據,對從事船務及相關支援服
                務的人士,以及有興趣了解行業最新發展的各界人士,均具參考價值。
                廖汉波
                海事處處长
香港以作業典範吸引
船舶註冊
持續不斷提升質素為香港船舶註冊帶來令人羨慕的美譽
除了迅速增長的註冊船舶數目外,                                                在2012年底,海事處將會推行船
同樣重要的是,常為人稱道的香港                                                舶管理質素保證制度。海事處船
船舶註冊的質素。                                                       舶註冊及海員事務部總經理王世
                                                               發先生稱,”我們承認,要對在
香港船舶註冊是以國籍註冊的:這                                                港註冊那超過2000艘船隻,逐一
可從船東的國籍可見一斑,當中                                                 監控他們的質素,的確是一件艱
50%的註冊船舶由駐香港的船東擁                                               巨的工作,而船務經理的質素也
有,40%則由中國船東擁有。余下                                               是同樣重要的。”
的10%註冊船舶由外國船東擁有。
                                                               “在新的制度下,船務經理必須
香港船舶註冊於1990建立,那時香港仍                    雖然如此,船東要享有這些好處還得付     就他管理的所有船隻,向海事處提交港
然由英國管治,而海事處已制定了一套                      出代價,這就是服務質素。與其他船      口國監督檢查記錄,以作審查。如果
獨立自主的系統。隨著香港回歸中國管                      旗國相比,在港註冊的船隻的扣留率較     水準低於香港的平均要求的話,船務經
治日趨臨近,直至1997年情況明朗化之                    低。這要歸功於香港船舶註冊已列入巴     理將必須告知我們,他將會實行甚麼措
前,註冊船舶數目都只有緩慢的增長。                      黎諒解備忘錄和東京諒解備忘錄兩者的     施,以確保達到所要求的水準。
                                       白名單之中,並且還得到美國海岸防衛
由於推出了雙語認證、降低註冊費和簡                      隊二十一世紀優質船舶計劃的確認。因     他總結說,”透過這個機制,我們將可
化註冊程序等措施,這令船舶註冊的吸                      此,加入了二十一世紀優質船舶計劃的     為船東與海事處之間建立起更緊密的工
引力大增,船舶註冊總噸數在其後的數                      船隻在美國水域內航行時所須接受的檢     作關係,從而進一步提升船舶註冊的整
年急遽上升。與此同時,亦實施了海事                      查是較少的。                體質素。”
     避風港
     雖然出現環球風暴,香港仍然屹立不倒
     香   港這個地方每年所得到的讚譽都                                   預算案中建議豁免2012/13年度的商
     詳盡無遺:全球最自由的經濟體;全球                                    業登記費,同時也大幅削減2011/12
     最具競爭力的經濟體;全球最服務業導                                    年度的利得稅達75%,上限則為港幣
     向的經濟體;還有很多很多。                                        12,000元。最後但同樣重要的是,香
                                                          港特區政府亦已推出一個小型貸款計
     這也確實是個很好的地方:見證著                                      劃,最高借貸額為港幣30萬,以扶助
     2011年香港接待了4,190萬人次的來                                 創業人士。
     港旅客,為本地經濟帶來2,630億港元
     收益。在訪港旅客的總人次之中,有                                     與中國大陸的聯繫
     2,810萬人次是來自中國大陸 – 這或許                                香港與中國內地日趨頻繁的整合會繼
     可說是香港與中國內地加緊融合的眾多                                    續迅速發展下去。香港毫無疑問是內
     可見事例之一。                                              地的首要轉口港和最大的投資資金來
                                                          源地。香港一向以來都是中國最重要
     旅遊業被形容為香港四大經濟支柱之                                     的離岸集資中心。現在,隨著《內地
     一,但海運業則處於最大支柱的貿易及                                    與香港關於更緊密經貿關係的安排》
     物流業的核心位置,以2010年增值額計                                  中的附加條款已經落實,兩地的經濟
     算,佔國內生產總值25.5%這巨額的比                                  關係將會更加密切。
     例。金融業佔國內生產總值15.4%,其
                             香港特區政府向來都甚少積極參與本港
     他專業界別和生產服務業則佔12.8%。                                 隨著2012年6月簽訂了《內地與香港關
                             的經濟事務,這是人所共知的。在香港
                             特區政府於2012年2月1日發表的2012       於更緊密經貿關係的安排》的《補充協
     雖然經濟風暴席捲全球,香港在2012年                                 議九》,共有43項服務貿易開放和便利
                             年的財政預算案中,公佈了對本港商界
     也感受到其影響,但經濟上仍然有非凡                                   投資的措施已經推行,從而進一步提升
                             的策略性建議,任何決定把全部或部分
     的表現。                                                金融、貿易及投資等領域的跨境合作。
                             業務設於或遷往香港的人士都會對這些
                             建議感興趣。                      簽訂這協議的主要成果是,除了少數的
     屹立不倒                                                香港產品外,差不多所有香港產品輸入
     香港經濟於2011年第二季開始放                                    內地均無須繳付關稅。香港的服務供應
                             香港特區政府增強了中小企融資擔保計
     緩,2012年上半年的國內生產總值實                                  商亦可從當中的優惠條件得益。最新的
                             劃的助益,並且透過香港出口信用保險
     質增長為0.9%,相比於2011年上半年                                措施將於2013年1月1日正式生效。
                             局加入了新的擔保條款。
     的5%。
     2012年上半年的貨物出口總額與去年同
                              重要數據 (2011)
     期相比下跌3%。對照起來,服務方面
     的出口總額則有2.5%的輕微增幅。私人      人口 2011                                        707萬
     消費急升,與去年同期相比增加了5.1%      國內生產總值                                    2,432億美元
     ,因此本地經濟在2012年上半年表現不      國內生產總值 (人均)                               34,300美元
     錯。投資開支也有9%的很大升幅。在        國內生產總值實質增長                                       5%
                              通貨膨脹                                             5%
     今年8月的政府預測中,香港2012年的
                              失業率                                             3.4%
     國內生產總值整體增長為1%至2%。
香港銀行收緊貸款條件
香港的銀行仍然很支持航運業,但貸款條件變得較嚴謹
全    球經濟狀況瞬息萬變,新聞在很
短時間內已變成舊聞。筆者執筆的時
候,航運業正面臨週期性的低潮,每個
部門都有新增噸位的船隻投入服務,卻
沒有足夠的貨物來配合這方面的供應。
與此同時,由於歐盟成員實行緊縮經濟
措施,以避免銀行及國家的債務違約,
這增添了歐洲經濟的不明朗因素,而美
國和中國也採取節流而非消費的政策(
加上其他方面的發展),引致對亞洲的
國內生產總值的預測向下調整。這些因
素令採購和托運代理商沒有信心確定預
先要購買的石油和主要產品的數量。促
成這形勢的第三個因素是,雖然已大量
發行鈔票,卻仍缺乏銀行方面所提供的
資金。從銀行同業市場借貸的成本越來
越昂貴,但回想起2008年,對大部分銀
行來說,那時的倫敦銀行同業拆借利率
比起資金的實際成本還要低。
                                       在香港,本地和歐資銀行已面對未能在     阻止不斷建造新船。有關當局已實施監
這狀況所帶來的影響是,銀行需要再注                      銀行同業市場借入資金的問題。他們解     控措施以限制哪些銀行可以發出退款保
資,並減慢向航運業提供資金的速度,                      決這問題的方法是,再貸出現有航運界     證,用意是令規模較細的造船廠在謹慎
而高調違約和船舶價值下跌對於這方面                      客戶已清還或預付的款項。這些銀行運     的情況下合併或關閉,從而把出現法律
更是無補於事。那些因股東和債券持有                      用過去10 年所累積的龐大貸款中的一部   索償和失業的情況減至最低。
人(或政府)提供充裕資金的航運銀行,                     分再貸給有需要的客戶,只不過現時是
仍然繼續提供貸款,因為他們可以向借                      以利潤更高的息率借出。由於航運場市     總的來說,訂單過量的週期正接近高峰
款人要求更高額的保證金、相當數額的                      十分動蕩不定,一些另類提供資金的辦     期,全球需要一段約18至24個月的增長
前期費用和大量抵押品,以彌補船舶價                      法(如證券化、航運基金、私募股權基金    期才能配合和趕上現時船隻的供應。無
值進一步下跌的風險。如果超過某個貸                      和賣方信貸)並沒有達到很普及的程度。    論是經驗豐富的船東還是投機者,在這
款與估值比率的話(現時只有為數不多的                                           段期間,當新的環保船隻和較新的二手
買家,而那些向銀行貸款的買家需自行                      在中國,銀行監管機構要小心翼翼地控     船舶從口碑佳的造船廠而來的時候,它
承擔資產中最少50%的款項),便很難                     制通貨膨脹,並確保銀行都能應付壓      們的價值再度變得吸引的時候,新的週
強制收回抵押品,因此銀行給予2012年                    力測試,但同時又不能扼殺國內的經濟     期將會開展。對於需要航運融資的一方
及2013年的新的借貸條款將需要相當程                    增長。近來有跡象顯示,銀行所需持有     而言,從香港和中國提供的資金無疑將
度的緩衝風險安排。船東將需要接受的                      的資金百分率已獲放寬了一至兩個百分     會附帶更嚴格的借貸條款了。
情況是,借貸利率只高於倫敦同業拆息                      點,但這還沒有導致增加貸出資金的情
50基點的日子已一去不返,就算是最穩                     況。對不良貸款的憂慮仍然存在,尤其     本文作者為子子士打律師行資深顧問
建的公司也將面對同一情況。                          是在造船業,因而有需要嚴格控制,以     楊典瑞
     香港盡展物流優勢
     M.Power的Mark
     M.Power的Mark Millar概述香港
                  Millar概述香港
     蓬勃的物流業
     蓬勃的物流業
     關鍵聯繫
     香港的船務經紀業界對於本土船務業的暢順運作起着關鍵作用
     亞   洲佳信(香港)船務經紀有限公司
     在香港船務經紀業中是較活躍的公司之
     一:今年正好是公司成立25週年。
     除此以外,香港還有約20   家獨立的船
     務經紀公司,另外也有一些隸屬於航運
     及船舶管理公司的船務經紀。
     雖然香港並沒有法定要求必須要取得某
     項資格才可成為船務經紀,但船務經紀
     專業學會所設立的專業資格考試還是獲
     得高度重視。初步資格包括取得基礎文
     憑和高級文憑。但是,只有通過船務經
     紀專業學會的專業資格考試才可加入船      小時。更重要的是,與英國總會的安排         但在經濟低潮時,香港仍然是最好的
     務經紀專業學會成為會員。           不同,香港分會為學員提供的培訓課程         市場,尤其是銷售及採購和新船建造
                            是免費的。                     等行業。
     船務經紀專業學會積極革新
     香港船務經紀專業學會新任主席陳耀棋      陳先生稱,”我們不收取學費,甚至是         展望
     先生尤其熱心吸納年輕人材加入學會。      一些以往不是我們學員的人士報讀也是         香港其中一家較活躍的船務經紀公司,
     他表示,”我認為,讓年輕人加入成為      不收取學費的。重要的是,我們想鼓勵         亞洲佳信的董事總經理馬田.羅爾先生
     會員,甚至是成為執行委員會委員,這      業內的從業員都能夠盡可能受到培訓,         解釋說,對於2005年至2008年的航運
     是十分重要的。”               並得到最新的行內知識。”              業興盛期,香港的船東與其他人一樣十
                                                      分雀躍,但不同的是,他們不是大灑金
     他補充說,”我們一些資深會員已身居      太平洋航運有限公司是香港首要的乾散         錢購買高價貨船,而只不過是用現有船
     較高級的職位,因而十分繁忙。我知道      貨航運專家之一,擁有龐大的大靈便型         隊賺取更高收益。
     較年輕的船務經紀的職責也將會不輕,      和小靈便型貨船隊,正正是航運營運商
     但憑着他們的魄力,必可為學會作出具      本身僱用內部船務經紀的好例子。他們         他說,”現時,當浮動資產的價值差不
     大的貢獻。”                 的船務經紀全職工作,為船隊收取貨          多見底時,同一班傳統的船東又一次可
                            物。他們能確保載貨返船,從而能大大         以揀選便宜貨了。可是,一方面,行動
     吸納年輕人材                 增加長期租賃的價值,這亦可解釋這家         猶豫的船東正等待市場迅速好轉,另一
     為了吸納較年輕的人材,陳先生正計       公司為甚麼能在很困難的市場環境中仍         方面,造船商卻在面對財務壓力,這些
     劃更新香港船務經紀專業學會的網        能取得成功。                    因素結合起來,令現時新船建造的訂單
     頁,並籌辦更多正式及非正式的活                                  少之又少。”
     動。在10月,學會已舉辦了一個與執      與一般所想的不一樣,船務經紀並沒有
     行委員會會面的活動,接着還有11月      最好的入行時機。市場或許可以說是接         船東、船務經紀和分析員的一般共識
     的一系列研討會和正在籌備在12月舉      近谷底,但(希望)到時只能見底回升。        是,供求接近平衡的較佳市場環境大概
     行的聖誕節聚會。               那些約於2005年航運業蓬勃高峰期入行       將會於2014出現。          所以,現時可能是
                            的畢業生,在浪峰加入這個行業,卻目         加入全球最佳市場之一,成為年輕專業
     從10月底起,學會已為準備應考專業資     睹這個行業的興旺在其後又瞬即減弱,         船務經紀的好時機。
     格考試的學員安排了6節導修課,每節3     確是十分令他們失望的。
     Prepare to be amazed
     by Hong Kong’s new cruise
     centre
     It’s been a long wait but the best cruise terminal in Asia will now
     open in mid-2013
     D
                  esigned by the world-renowned       Kai Tak airport is set to cater to pent up         According to recent research cruise
                  team of architects, Foster +        demand of cruise ship operators from across   tourism accounts for as much as US$18bn a
                  Partners, the new Hong Kong         the globe.                                    year in passenger expenditure. This figure is
                  Cruise Terminal situated at Kai         In September 2012, Christine Duffy,       likely to rise as the cruise sector has been the
     Tak is nearly complete and is scheduled for a    president and chief executive of the          fastest growing part of the tourism market
     mid-2013 grand opening.                          Cruise Lines International Association,       for the last 20 years.
          Bookings by cruise operators began in       described Asia as a gateway to tomor-              The burgeoning cruise market will get a
     early 2012, and continue to be brisk. Berth      row’s cruise marketplace. Talking about       treat when it arrives at Kai Tak. After alight-
     reservations are already filling up through to   the potential growth prospects in the Asia    ing from the ship customers get a spectacular
     April 2014.                                      Pacific region, she said a 1% penetration     introduction to the exciting world of Asia’s
          The arrival of the visually stunning        rate would lead to 300 million cruise pas-    World City in a 50,000 sq metre terminal
     facility constructed on the old runway of        sengers.                                      that neatly doubles up as a venue for live
     A
                 s a premier shipping hub and
                 professional services centre Hong
                 Kong has a vested interest in
                 rearing young people into the
     maritime industry at all levels
         The shipping industry has become
     more complex and sophisticated in recent
     years. This has prompted the Seaman’s
     Training Centre (established 1988) to be
     renamed the Maritime Services Training
     Institute.
     U
                   nusual weather conditions once          Even ahead of Ms Loh’s appointment             2007, involves ocean-going vessels switching
                   again brought record levels of      progress was being made on a project               to fuel using 0.5% sulphur content or less
                   airborne pollution to the streets   originating from the territory’s previous          while at berth in Hong Kong.
                   of Hong Kong in 2011. A toxic       administration.                                        Many of the more responsible local
     combination of vehicular, power-generated,                                                           and international shipping companies were
     factory produced and shipping emissions           Voluntary agreement                                quick to join the scheme, including Orient
     has generated a wave of heath concerns in         The Hong Kong government has insisted              Overseas Container Line, Maersk Line,
     government, non-governmental organiza-            that local craft use ultra-low sulphur fuels for   APL, Evergreen Marine, Yang Ming Marine
     tions and the general public. The pollution       more than 11 years. But it was commercial          and China Ocean Shipping Company.
     phenomenon is now considered to be the            shipping companies that upped the ante in          However, from the start it was made clear to
     main deterrent when Hong Kong attempts            2010. The Fair Winds Charter, an industry-         government that the scheme could only ever
     to attract foreign talent to its shores.          led voluntary, unsubsidized fuel switch            be temporary.
          But now there are positive signs that the    programme for ocean-going vessels calling at           The Fair Winds Charter was afforded
     Hong Kong government is at last prepared          Hong Kong was launched in October 2010.            a two-year lifespan and is due to finish in
     to institute measures to combat the nefari-       The programme, which was first mooted in           December 2012, Due largely to the fact
     ous effects of airborne pollution. On 15 De-
     cember 2011, a statutory ban against idling
     of motor vehicles came into force.
          In September 2012, Hong Kong’s new
     chief executive C Y Leung, in an inspired                     There are positive signs that the
     move, appointed Christine Loh, one of the                     Hong Kong government is prepared
     territory’s leading environmental activists
     as the new under secretary for the environ-
                                                                   to institute measures to combat the
     ment. The appointment has created a strong                    nefarious effects of airborne pollution.
     impression that the Leung administration is
     determined to make headway against pollu-
     tion on a number of fronts.
in October 2010
that those shipping lines that volunteered to    Areas is yet to be announced. As such the         of photographs and stories reflecting Hong
join the scheme were burdening themselves        continuation of shipowner participation in        Kong’s unique aquascape.
with the considerable extra costs of switch-     voluntary controls beyond December 2012                Also in the last 12 months Compa-
ing and the higher cost of the low sulphur       is not guaranteed. It may be significant that     nies with a presence in Hong Kong such
fuel. Only if the practice were to be come a     the government’s incentive scheme has an          as China Navigation, AP Moller-Maersk
regulation can the shipping companies pass       initial three-year time-span, which could         and law firms, Blank Rome and Holman
on the cost to the customer.                     indicate that the government is hopeful           Fenwick Willan have become members of
     In the nick of time – September 2012        that a region-wide ECA could be established       the World Ocean Council.
– the government announced a HK$260m             by then.                                               Some of Hong Kong’s leading ocean
(US$33.6m) scheme that would make                     Separately the International Maritime        companies are working to expand and
shipowners and operators eligible for a 50%      Organisation has set a timetable for the          better coordinate the collecting of ocean
cut in port facilities and light dues if their   gradual reduction in the sulphur concentra-       and atmospheric information from ships
ocean-going vessels use low sulphur fuels in     tion of bunker fuels, which will eventually       and offshore structures through the “Smart
Hong Kong. The move is seen by many as           see a total transfer to much cleaner distillate   Ocean / Smart Industries” programme
a first step in a longer struggle to cut ship    fuels in 2020.                                    developed by the World Ocean Council.
emissions across the Pearl River Delta.                                                                 A WOC Working Group co-chaired
                                                 Clean Seas initiatives                            by A.P. Moeller-Maersk and Transocean is
Permanent solution                               The Ocean Recovery Alliance is a registered       beginning work to develop a comprehen-
Indeed, it was a prerequisite of the Fair        charitable organization in Hong Kong. Its         sive structure and process to scale up data
Winds Charter that the control of ship           objectives are to bring together new ways         collection from “smart” ships and platforms
emissions in Hong Kong and across the            of thinking, technologies, creativity and         and expand the extent of observations by
Pearl River Delta would become manda-            collaborations in order to introduce innova-      leadership companies.
tory. In pursuit of this objective the Hong      tive projects that will help improve the ocean         Recent developments both in the
Kong government has had talks with the           environment. Most recently the organization       private and public arenas suggest that the
mainland municipal governments of Shen-          joint-published with Hong Kong-based Flynn        message of a cleaner Hong Kong is a richer
zhen and Guangzhou but any solid progress        Consulting, Water Margin: Hong Kong’s             Hong Kong is getting through for the ben-
in the establishment of Emission Control         Link to the Sea, a beautifully produced book      efit of all, and for future generations.
     I
           t is now 15 years since Hong Kong was      under the auspices of further treaties that     sion was stalking the world and it was a
           handed back to the People’s Republic of    awarded Britain Kowloon in 1860 and the         lack of demand for China’s goods such as
           China: just 35 years until the territory   New Territories in 1898.                        silver that slumped, leaving Hong Kong
           is fully integrated into the mainland.          Soon, the coastal areas of Hong Kong       in an economic malaise. Matters only got
          Hong Kong and the motherland have           were buzzing with the activity of shipbuild-    worse when Japan invaded China in 1937,
     maintained an almost unbroken interde-           ers and ship repairers catering both for        and continued to deteriorate as Hong Kong
     pendence for more than 150 years, when           commercial and naval ships.                     itself was swallowed up by Japan’s “Greater
     the territory was originally ceded to Britain                                                    East Asia Co-Prosperity Sphere, when the
     under the 1842 Treaty of Nanking. In those       The fallow years                                aggressor invaded the territory in Decem-
     dark days the interdependence was centred        Hong Kong and China’s interdependence           ber 1941.
     on the British trade in opium from India         could also have its downside. As the world           Following Japan’s defeat and withdrawal
     to China. At that time is it estimated there     entered the 20th century the downside           from the region in 1945, the Kuomintang
     were just 7,500 Chinese and a few foreign-       would last for close to 50 years. Following     and the communists led by Mao Tse Tung,
     ers living on the “barren rock.”                 the end of China’s imperial history in 1911,    were left to battle it out for supremacy. The
          But out of poor beginnings good would       when the Kuomintang led by Sun Yat-sen          Communist victory and Mao’s declaration
     eventually come. Chosen for its deepwater        established a republic, there followed a        of the establishment of the People’s Republic
     harbour, Hong Kong soon became an ideal          decade of bloodshed and domestic turmoil.       in 1949, left Hong Kong in something of
     entrepot for trading of all kinds. Supported     The result for Hong Kong was a constant         a dilemma: the rest of the world, under the
     by banking institutions such as the Hong         struggle to supply the rest of the world with   auspices of the United States and the United
     Kong & Shanghai Bank, a shipping indus-          Chinese goods.                                  Nations eschewed the possibility of trading
     try began to emerge after another land grab          By the mid-1920s, the Great Depres-         with China on political grounds as globally
T
            he Hong Kong Shipowners’ As-
            sociation, the Hong Kong Liner
            Shipping Association, the Hong
            Kong Container Terminal Asso-
ciation and other esteemed industry bodies
in the territory, have done much to further
the business interests of their members. But
all work and no play ever made a seafarer a
dull boy, and the same would apply to the
landlubbers involved in shipping and the
related industries.
     Many people in Hong Kong’s maritime
sector have a work hard play hard mental-
ity and the organizations, both formal and
informal, that have been established for the
sector recognize this fact.
                                                                                                             Founder members of The
                                                                                                             Young People in Shipping
A Hong Kong institution                                                                                  Network Tabitha Logan, Marija
The HKSOA has a long tradition of                                                                           Pospilis and Su Yin Anand
inviting top calibre guest speakers from
around the world to its monthly lunches,
held in some of Hong Kong’s top hotels.          at the behest of YPSN at the Maritime          and the latest news is that China is likely to
In 2011, the HKSOA hosted such ship-             China event held in Hong Kong in March         host its 2014 annual conference.
ping luminaries as past head of Clarkson         2012.                                               The Hong Kong Sea Transport and Lo-
Research, Dr Martin Stopford, director of             YPSN also has an active online forum      gistics Association was primarily set up as a
Marine in Hong Kong Francis Liu, Hong            that among other things highlights job op-     common platform for dialogue among liner
Kong’s secretary for Transport & Housing         portunities in Hong Kong.                      companies, freight forwarders and logistics
Professor Anthony Cheung, Bing Leung.                 Explaining why the trio thought a plat-   companies but considers its luncheon/
Less formal but perhaps more precious as         form such as YPSN was needed, Ms Logan         networking and happy hour gatherings as
networking opportunities are the occasional      said recently, that the more established       vital opportunities for its members from the
well-attended cocktail parties held through      members of the territory’s maritime sector     three main disciplines to mix and exchange
the year.                                        had already built up their own networks but    information in an informal setting.
                                                 there was a lack of similar communities for         In Hong Kong the “catch them young”
For the young at heart                           new arrivals to Hong Kong and the shipping     approach is adopted: no more so than at
The Young People in Shipping Network             business.                                      Adventure Ship, a non-governmental organi-
is, as you might imagine, a less formal ar-           It should be noted that, despite the      zation that aims to provide educational and
rangement than the HKSOA. Established            name of the organization, the older mem-       recreational training at sea for Hong Kong’s
in 2010, YPSN now boasts more than 500           bers of Hong Kong’s Maritime network are       youth. AS recruits up to 9,000 young people
members.                                         not expressly excluded, as long as you can     each year with special allocations for over
     Three young women in the maritime           keep up.                                       nines that have physical or mental disabili-
profession, Tabitha Logan, Marija Pospilis                                                      ties, children with behavioural challenges,
and Su Yin Anand, founded YPSN. What             A woman’s place is in the                      chronic illnesses or are underprivileged.
started out as an excuse for informal drinks     WISTA                                               In addition to the abundance of meet
soon blossomed in to a fully-fledged institu-    Also not as exclusive as it may sound is the   and greet opportunities offered by Hong
tion that holds regular events, often attract-   Women in Shipping and Trading Associa-         Kong’s maritime organizations the territory
ing star acts such the appearance of the         tion. Established in Hong Kong in 2009,        hosts many conferences and exhibitions
world’s most renowned shipping journalist        WISTA Hong Kong has gone from strength         organized by international maritime event
Michael Gray. Mr Grey flew from London           to strength. WISTA is a global organization    promoters.
     Directory Contents
     Administrative Marine Department                                                 67
     Banks (Shipping Finance)                                                         67
     Bunkers                                                                          67
     Classification Societies                                                         68
     Container Depots                                                                 69
     Container Repairers                                                              69
     Container Terminals                                                              69
     Containerised Freight Services                                                   70
     Cruise Terminal                                                                  70
     Freight Forwarders/Logistics                                                     70
     Godowns & Warehouses                                                             73
     Local Shipping Agents                                                            74
     Marine Suppliers (Equipment)                                                     76
     Marine Suppliers (General Stores)                                                77
     Maritime Consultancy                                                             77
     Maritime Insurance                                                               78
     Maritime Law Firms                                                               79
     Maritime Telecommunications                                                      80
     Mid-Stream Operators                                                             80
     Paints & Coatings                                                                80
     Passenger Ferry Services                                                         81
     Pilots                                                                           81
     Ship Brokers                                                                     81
     Ship Management                                                                  82
     Shipping Companies                                                               83
     Shipping Publications                                                            85
     Shipping Registries                                                              86
     Shipyards/Ship Repairers                                                         86
     Surveyors                                                                        87
     Towage & Salvage                                                                 88
     Trade/Shipping Organizations                                                     88
     Vtms Registered Shipping Agencies                                                89
     Others                                                                           96
     Golden Fame Petroleum (HK) Ltd.             Titan Bunkering (Hong Kong) Limited          CLASSIFICATION SOCIETIES
     Room 1111, 11/F, Capitol Centre,Tower II,   4902 Sun Hung Kai Centre, 30 Harbour Road,
     28 Jardine’s Crescent,                      Wanchai, Hong Kong                           American Bureau of Shipping
     Causeway Bay, Hong Kong                     Tel (852) 2116-1388                          15/F, Queen’s Centre,
     Tel (852) 3480-6860                         Fax (852) 3018-7649                          58-64 Queen’s Road East,
     Fax (852) 3480-6861                         hkbunker@petrotitan.com                      Wanchai, Hong Kong
     bunker@goldenfame.com                                                                    Tel (852) 2527-8478
                                                 United Bunkering & Trading (HK) Ltd.         Fax (852) 2861-3403
     North Sea Group Hong Kong Limited           3902 Times Square, Tower Two,                abshongkong@eagle.org
     Room 3307, 33/F, Hopewell Centre,           1 Matheson Street,
     183 Queen’s Road East,                      Causeway Bay, Hong Kong                      Bureau Veritas
     Wanchai, Hong Kong                          Tel (852) 2506-1388                          Room 2704 Vicwood Plaza,
     Tel (852) 2529-3122                         Fax (852) 2506-1988                          199 Des Voeux Road Central, Hong Kong
     Fax (852) 2527-3318                         ubt@ubt.com.hk                               Tel (852) 2815-1863
     bunker@northseagroup.hk                                                                  Fax (852) 2815-3428
                                                 Vermont Marine Bunkering Ltd.
     O.W. Bunker China Ltd.                      Room 3101, 3107-10,                          China Classification Society
     Room 1710 - 11, Shui On Centre,             118 Connaught Road West,                     Hong Kong Branch
     6-8 Harbour Rd,                             Sai Ying Pun, Hong Kong                      Room 2904-5, West Tower Shun Tak Centre,
     Wanchai, Hong Kong                          Tel (852) 2803-0608                          200 Connaught Road Central, Hong Kong
     Tel (852) 2866-6488                         Fax (852) 2527-3851                          Tel (852) 2547-6181
     Fax (852) 2866-9590                         vermont@vermont.com.hk                       Fax (852) 2858-2629
     owbchina@owbunker.com.hk                                                                 ccshk@ccs.org.cn
                                                 World Fuel Services (Singapore) Pte Ltd.
     Oil Shipping                                Rooms 1507-8, 15/F Harcourt House,           Det Norske Veritas AS
     1507-8, 15/F, Harcourt House,               39 Gloucester Road, Wanchai, Hong Kong       Room 702, 7/F The Sun’s Group Centre,
     39 Gloucester Road,                         Tel (852) 3476-5001                          200 Gloucester Road, Wanchai, Hong Kong
     Wanchai, Hong Kong                          Fax (852) 2865-1700                          Tel (852) 2865-3332
     Tel (852) 3476-5001                         Tlx 85399 OSHK HX                            Fax (852) 2865-3513
     Tel (852) 2520-0157                         oshk@wfscorp.com                             MCHHK220@dnv.com
     Fax (852) 2865-1700
     Tlx 85399 OSHK HX                                                                        Germanischer Lloyd
     oshk@wfscorp.com                                                                         Room 918, Star House, 3 Salisbury Road,
                                                                                              Tsimshatsui, Kowloon, Hong Kong
     Sea Trader International Ltd.                                                            Tel (852) 2317-1980
     Unit 1901, 19/F, The Sun’s Group Centre,                                                 Fax (852) 2314-7003
     200 Gloucester Road,                                                                     gl-hong.kong@gl-group.com
     Wanchai, Hong Kong
     Tel (852) 2838-6797                                                                      Korean Register of Shipping
     Fax (852) 2838-6170                                                                      Hong Kong Branch
     bunkers@seatrader.hk                                                                     Room 1004-5, 10/F Blissful Building,
                                                                                              243-247 Des Voeux Road Central, Hong Kong
     Seven Seas Oil (Hong Kong) Limited                                                       Tel (852) 2850-7654
     Unit E, 19/F, Neich Tower,                                                               Fax (852) 2850-6797
     128 Gloucester Road,                                                                     kr-hkg@krs.co.kr
     Wanchai, Hong Kong
     Tel (852) 2838-1991                                                                      Lloyd’s Register Asia
     Fax (852) 2838-2663                                                                      Room 3501 China Merchants Tower,
     bunkers@seven-seas.hk                                                                    Shun Tak Centre,
                                                                                              168-200 Connaught Road Central, Hong Kong
     Singapore Petroleum Company (Hong                                                        Tel (852) 2287-9333
     Kong) Ltd.                                                                               Fax (852) 2845-2616
     Unit 1802, 18/F, Star House,                                                             Hong-kong@lr.org
     3 Salisbury Road,
     Tsimshatsui, Kowloon, Hong Kong                                                          Nippon Kaiji Kyokai
     Tel (852) 2511-0693                                                                      Room 3705, Shun Tak Centre, West Tower,
     Fax (852) 2511-0867                                                                      200 Connaught Road Central, Hong Kong
     marine@spc-hk.com.hk                                                                     Tel (852) 2517-7023
                                                                                              Fax (852) 2857-7401
     Soaring Dragon Enterprise Ltd.                                                           hn@classnk.or.jp
     Room 1208, Central Plaza,
     18 Harbour Road,                                                                         RINA Hong Kong Brach Office
     Wanchai, Hong Kong                                                                       Unit 1703, 17/F Golden Centre,
     Tel (852) 2519-3882                                                                      188 Des Voeux Road Central, Hong Kong
     Fax (852) 2511-3130                                                                      Tel (852) 2866-6908
     Tlx 88143 SDELT HX                                                                       Fax (852) 2861-2676
     business@soaringdragon.com.hk                                                            hongkong.office@rina.org
Fat Kee Stevedores Ltd.                  Fat Kee Container Services Ltd.        Asia Container Terminals Ltd.
14B, Waylee Industrial Centre,           14B, Waylee Industrial Centre,         Container Terminal 8 West,
30-38 Tsuen King Circuit, Tsuen Wan,     30-38 Tsuen King Circuit, Tsuen Wan,   Container Port Road South,
N.T.,Hong Kong                           N.T., Hong Kong                        Kwai Chung, N.T. Hong Kong.
Tel (852) 3717-1333                      Tel (852) 3717-1333                    Tel (852) 2276-8000
Fax (852) 2420-6719                      Fax (852) 2420-6719                    Fax (852) 3101-1536
fkshqhk@fkstev.com                       fkshqhk@fkstev.com                     act-hotline@act.com.hk
     Hosanna Logistics Ltd.                      Lapton Freight International Ltd.             Shipair Express (HK) Ltd.
     7/F Shiu Fung Hong Building,                Room A3, 8/F, Block A,                        Unit 1504-7 Telford House,
     239-241 Wing Lok Street,                    HK Industrial Centre,                         16 Wang Hoi Road,
     Sheung Wan, Hong Kong                       489-491 Castle Peak Road                      Kowloon Bay, Kowloon, Hong Kong
     Tel (852) 2723-5188                         Kowloon, Hong Kong                            Tel (852) 2303-0723
     Fax (852) 2723-7188                         Tel (852) 2789-1128                           Fax (852) 2774-3305
     Fax (852) 2127-7491                         Fax (852) 2789-2860                           shipair@shipair.com.hk
     info@hosanna-logistics.com.hk               info@lapton-freight.com.hk
                                                                                               Shuttle Cargo International (HK) Ltd.
     Hsing Loong Company Ltd.                    Logwin Air & Ocean Far East Ltd.              Rm.1901-1902,
     220-248 Texaco Road, Suite 1012,            Suite 2708, 27/F Skyline Tower,               19/F China Insurance Group Building,
     Tsuen Wan, N.T.,                            39 Wang Kwong Road,                           141 Des Voeux Road,
     Hong Kong                                   Kowloon Bay, Hong Kong                        Central, Hong Kong
     Tel (852) 2545-0877                         Tel (852) 2827-8318                           Tel (852) 2815-8286
     Tel (852) 2545-0494                         Fax (852) 3190-2101                           Fax (852) 2545-6879
     Fax (852) 2815-1765                         friendly.yuen@logwin-logistics.com            info@shuttlecargo.com
     hsingloongroup@yahoo.com
                                                 MC Express International (HK) Ltd.            Sindh Transport Co.
     IFL Shipping (HK) Co., Ltd.                 Room 1407, 14/F Texaco Centre,                Unit 2B, 1/F,
     Room 2513 Tower B,                          126-140 Texaco Road,                          2B Minden Row,
     Regent Centre,                              Tsuen Wan, N.T., Hong Kong                    Tsimshatsui,
     63 Wo Yi Hop Road,                          Tel (852) 3590-5330                           Kowloon, Hong Kong
     Kwai Chung, N.T.,                           Fax (852) 3590-5332                           Tel (852) 2723-0761
     Hong Kong                                   cs@mcexpress.com.hk                           Fax (852) 2367-5035
     Tel (852) 2787-7610                                                                       info@sindhtrans.com
     Fax (852) 2787-2677                         Mutiara Pinewood Ltd.
     inquiry@ifl.com.hk                          Room 1303 Shun Tak Centre,                    SML Relocations
                                                 200 Connaught Rd,                             Unit 2302, 23/F New World Tower,
     International Freight Express (H.K.) Ltd.   Central, Hong Kong                            18 Queens Road Central,
     Room 801, Yuen Fat Industrial Building,     Tel (852) 2517-0308                           Central, Hong Kong
     25 Wang Chiu Rd,                            Fax (852) 2517-0615                           Tel (852) 5303-4098
     Kowloon Bay, Kowloon, Hong Kong             Tlx 75891 PINE HX                             info@smlrelo.com
     Tel (852) 2331-4210                         pinewood@on-nets.com
     Fax (852) 2331-4282                                                                       Sui Jun International Ltd.
     general@ifehkg.com                          Oriental Air Transport Service Ltd.           Unit 808, 8/F, Tower B,
                                                 Unit B, 10/F United Overseas Plaza,           Manulife Financial Centre,
     Janco International Freight Ltd.            11 Lai Yip Street,                            223-231 Wai Yip Street,
     Room 1608, 16/F Tower A                     Kwun Tong, Kowloon, Hong Kong                 Kwun Tong, Kowloon, Hong Kong
     Manulife Financial Centre,                  Tel (852) 2363-9265                           Tel (852) 2544-3963
     223 Wai Yip Street, Kwun Tong,              Fax (852) 2422-2671                           Fax (852) 2544-3692
     Kowloon, Hong Kong                          orientalair.hkg@orientalair.com               suijun@suijun.com
     Tel (852) 2575-7883                                                                       bdenquiry@suijun.com
     Fax (852) 2575-8609                         Prime Line International Ltd.
     hkg@jancofreight.com                        Block G, 12/F Hing Win Fty Bldg,              Supreme Logistics (Hong Kong) Ltd.
                                                 110 How Ming Street,                          Unit A & B,
     Kesco SCM (HK) Limited                      Kwun Tong, Kowloon, Hong Kong                 1/F Sunshine Kowloon Bay Cargo Centre,
     11/F China United Plaza,                    Tel (852) 2529-7327                           59 Tai Yip Street,
     1008 Tai Nan West Street,                   Fax (852) 2343-6327                           Kowloon Bay, Hong Kong
     Cheung Sha Wan,                             primeline@primeline.com.hk                    Tel (852) 2796-3191
     Kowloon, Hong Kong                                                                        Fax (852) 2796-3105
     Tel (852) 2759-6921                         San Tai Distribution Co, Ltd.                 mailbox@supremelog.com.hk
     Fax (852) 2798-0924                         8/F Allied Cargo Centre,
     kesco@kescohkg.com                          150-60 Texaco Rd,                             Suz Air & Sea Freight (HK) Limited
                                                 Tsuen Wan, N.T., Hong Kong                    Room 1407, 14/F Texaco Centre,
     Kingsway Logistics Company Limited          Tel (852) 2408-0282                           126-140 Texaco Road,
     Flat F, 10/F, Block 1,                      Fax (852) 2408-0362                           Tsuen Wan, N.T., Hong Kong
     Golden Dragon Industrial Centre,            Fax (852) 2408-0319                           Tel (852) 3590-6885
     No.152-160 Tai Lin Pai Road,                std@santai.com.hk                             Fax (852) 3590-6181
     Kwai Chung, N.T., Hong Kong                                                               ben@suzair.com.hk
     Tel (852) 3679-3355                         Shanghai Dragon (Logistics) Ltd.              suzair@suzair.com.hk
     Fax (852) 3622-2724                          7/F, Shiu Fung Hong Building,
     sales@kw-log.com                            239-241 Wing Lok Street,                      Tai Wah Sea & Land Heavy
                                                 Sheung Wan, Hong Kong                         Transportation Ltd.
     Kusa Shipping Ltd.                          Tel (852) 2736-8678                           15/F 48 Man Fai Building,
     M/Floor Lung Ma Bldg,                       Fax (852) 2736-8211                           Ferry Point, Kowloon, Hong Kong
     550-552 Nathan Rd,                          rickyho@shadragon.com                         Tel (852) 2388-7578
     Kowloon, Hong Kong                                                                        Fax (852) 2780-6812
     Tel (852) 2323-1384                                                                       taiwah@taiwahhk.com
     Fax (852) 3007-3229
     info@kusa.com.hk
     Wealth Fair Development Co Ltd.              LOCAL SHIPPING AGENTS                         Conning Shipping Ltd.
     Room 606-608 Kin Wing Commercial Building,                                                 7/F Times Tower,
     24-30 Kin On Street,Tuen Mun,                Ahlers Bridge Hong Kong Ltd.                  393 Jaffe Road,
     New Territories, Hong Kong                   Unit 2201-2202,                               Causeway Bay, Hong Kong
     Tel (852) 2462-4981                          Java Road 108 Commercial Centre,              Tel (852) 2739-9977
     Fax (852) 2455-1089                          108 Java Road,                                Fax (852) 2723-0127
     mail@wealthfair.com                          North point, Hong Kong                        conningshipping@yahoo.com.hk
                                                  Tel (852) 2511-9650
     Winner Godown Ltd.                           Fax (852) 2596-0750                           D.S. Marine Ltd.
     8/F Tai Sang Container & Godown Centre ,     Tlx 2596-0751                                 21AB Lockhart Centre,
     2-10, Cheung Fai Road,                       info@hk.ahlers.com                            301-307 Lockhart Rd, Wanchai, Hong Kong
     TsingYi, N.T., Hong Kong                                                                   Tel (852) 2865-3378
     Tel (852) 2408-7221                          Anda Shipping Ltd.                            Fax (852) 2865-6806
     Fax (852) 2407-6052                          Flat B, 12/F Ying Yu Building,                dsmarine@netvigator.com
     irene@winnerlogistics.com                    99-101 Lai Chi Kok Road,
                                                  Mongkok, Kowloon, Hong Kong                   Dong Woo Shipping Co Ltd.
                                                  Tel (852) 2381-6566                           Room 1408, Cosco Tower,
                                                  Fax (852) 2302-4661                           183 Queen’s Road Central, Hong Kong
                                                  Tlx (051) 94075242 ANDA G                     Tel (852) 2534-3700
                                                  andaship@biznetvigator.com                    Fax (852) 2534-3754
                                                                                                Tlx (051) 94075275
                                                  Ben Line Agencies (HK) Ltd.                   dwops@dongwoo.com.hk
                                                  2702 Bonham Trade Centre,
                                                  50 Bonham Strand,                             East West Maritime Limited
                                                  Sheung Wan, Hong Kong                         Room 503, 5/F Park Tower,
                                                  Tel (852) 2893-4307                           15 Austin Road, Jordan,
                                                  Fax (852) 2893-4377                           Kowloon, Hong Kong
                                                  Tlx (051) 94075273 BENL G                     Tel (852) 2739-1911
                                                  mngt@benline.com.hk                           Fax (852) 2369-4820
                                                                                                ewsa@ewsa.com.hk
                                                  Bravo Marine Limited
                                                  21/F Des Voeux Commercial Centre,             Eastern Worldwide Co Ltd.
                                                  212-214 Des Voeux Road,                       21/F Western Centre,
                                                  Central, Hong Kong                            40-50 Des Voeux Rd West, Hong Kong
                                                  Tel (852) 2854-4118                           Tel (852) 2592-3388
                                                  Fax (852) 2850-4217                           Fax (852) 2559-7090
                                                  Tlx (051) 94078112 BRAV G                     Fax (852) 2858-5512
                                                  agency@bravoholding.com                       Tlx (051) 94075526 EWCL G
                                                  bravomar@hkstar.com                           ship@eww.com.hk
     Sun Lord Co. Ltd.                            MARINE SUPPLIERS                               Fedders Hydraulics Services Co.
     Room 1905-7 Wayson Comm Building,            (EQUIPMENT)                                    Block B and C, 17/F Glee Industrial Building,
     28 Connaught Rd West, Hong Kong                                                             77-81 Chai Wan Kok Street, Tsuen Wan, N. T.,
     Tel (852) 2548-2661                          ABB Turbo Systems (Hong Kong) Ltd.             Hong Kong
     Fax (852) 2858-1708                          3 Dai Hei Street, Tai Po Industrial Estate,    Tel (852) 2492-1119
     Tlx 83824 LORDS HX                           Tai Po, N.T., Hong Kong                        Tel (852) 2492-1191
     all@sunlord.com.hk                           Tel (852) 9103-5163                            Fax (852) 2492-9368
                                                  Fax (852) 2929-3501                            feddersservices@biznetvigator.com
     Tri-Orient Shipping Ltd.                     turbo.hk@cn.abb.com
     1804 Central Plaza,                                                                         Full Smart Enterprise Limited
     18 Harbour Road, Hong Kong                   Billboard (International) Co., Ltd.            2/F Block B On Fat Industrial Building,
     Tel (852) 2827-6883                          Room 1106 Entrepot Centre,                     12-18 Kwai Wing Road,
     Fax (852) 2827-8559                          117 How Ming Street,                           Kwai Chung, N.T., Hong Kong
     operations@trioship.com                      Kwun Tong, Hong Kong                           Tel (852) 2819-7218
                                                  Tel (852) 2797-3972                            Fax (852) 2819-7597
     Wallem Shipping (HK) Ltd.                    Fax (852) 2304-7011                            fullsmart@full-smart.com
     12/F Warwick House East,                     info@bbeng.com
     Taikoo Place,                                                                               Hai Hong Boat Making Co. Ltd.
     979 King’s Road, Quarry Bay, Hong Kong       Cargotec Asia Limited                          702 Fortress Tower, 250 King’s Road,
     Tel (852) 2876-8500                          2/F Yoo Hoo Tower,                             North Point, Hong Kong
     Fax (852) 2876-1500                          38-42 Kwai Fung Crescent,                      Tel (852) 2571-9322
     wshk@wallem.com                              Kwai Chung, Hong Kong                          Fax (852) 2806-3153
                                                  Tel (852) 2944-8383                            boatservice@marland.com.hk
     Wells Marine Agencies                        Fax (852) 2944-9966
     Room 402 Welland Building,                   kalmarasia.info@cargotec.com                   Honour Marine Safety Equipment Co Ltd.
     368 Queen’s Rd. Central, Hong Kong                                                          2/F, Block B On Fat Industrial Bldg,
     Tel (852) 2543-4909                          CITE Limited                                   12-18 Kwai Wing Rd,
     Fax (852) 2543-4130                          16/F Yan’s Tower,                              Kwai Chung, N.T., Hong Kong
     Tlx (051) 94075277 WELL G                    25-27 Wong Chuk Hang Rd,                       Tel (852) 2819-8417
     wellsmar@netvigator.com                      Aberdeen, Hong Kong                            Fax (852) 2819-8443
     ops@wells-marine.com.hk                      Tel (852) 2552-0178                            honourms@netvigator.com
                                                  Fax (852) 2873-0679
     Wilhelmsenn Ships Service Ltd.               cite@cite.com.hk                               Infrared Engineering and Consultants
     Room 1104-1106, 11/F Lu Plaza,                                                              Limited
     2 Wing Yip Street, Kwun Tong,                Dong An Marine Safety Equipment                Suites 702-3, 7/F Chinachem Johnston Plaza,
     Kowloon, Hong Kong                           Trading Ltd.                                   178-186 Johnston Road, Wanchai, Hong Kong
     Tel (852) 2880-1688                          1/F Chu Kong Group,                            Tel (852) 2550-2330
     Fax (852) 2880-5058                          Shipyard Building, 93 Hing Wah St West,        Fax (852) 2550-1179
     wss-hkg-shipsagency@wilhelmsen.com           Lai Chi Kok, Kowloon, Hong Kong                irec@infrared.hk
                                                  Tel (852) 2408-6930
     Winbo Shipping Ltd.                          Fax (852) 2419-2207                            KEE Marine Service & Consultant Ltd.
     Room 202, 2/F Wo Hing Commercial Building,   dongan@yhckgs.com.hk                           Room 601 Nam Wo Hong Building,
     11-15 Wing Wo Street,                                                                       148 Wing Lok Street,
     Sheung Wan, Hong Kong                        Elekon Company                                 Sheung Wan, Hong Kong
     Tel (852) 2543-3686                          Room 1202-3 Kolwoon Building,                  Tel (852) 2116-1663
     Fax (852) 2543-4070                          555 Nathan Road, Kowloon, Hong Kong            Tel (852) 2851-7925
     Tlx 78188 WINBO HX                           Tel (852) 2770-6161                            Fax (852) 2851-6379
     winboshp@netvigator.com                      Fax (852) 2780-7197                            info@keemarine.com
                                                  elekon@elekonmarine.com
     World-Wide Shipping Agency Ltd.                                                             Lincon Marine Supply Service Limited
     Shipping agents. 23/F                        Eletek Technology Limited                      Room 3-4, 1/F Ming Fat Industrial Centre,
     No. 9 Des Voeux Rd West,                     Unit 1205-06 Sunbeam Center,                   1 Kin Fat Street, Tuen Mun, Hong Kong
     Sheung Wan, Hong Kong                        27 Shing Yip Street,                           Tel (852) 2462-7998
     Tel (852) 2842-3888                          Kwun Tong, Kowloon, Hong Kong                  Fax (852) 2467-5114
     Fax (852) 2810-0617                          Tel (852) 2343-9833                            info@linconsupply.com
     wwsalkc@pacific.net.hk                       Fax (852) 2343-2223
                                                  service@eletek.com                             Manifest Marketing Ltd.
     Xiamen Harvest Shipping Ltd.                 sales@eletek.com                               9/F Shun Feng International Centre,
     6/F Yardley Commercial Building,                                                            182 Queen’s Road East, Wanchai, Hong Kong
     3 Connaught Road West, Hong Kong             Express Marine Electronics Company             Tel (852) 2869-5065
     Tel (852) 3416-9128                          Limited                                        Fax (852) 2657-0312
     Fax (852) 8343-8852                          Unit 2, 23/F Man Shing Industrial Building,    john@manifest-hk.com
     Tlx 62987 EHS HX                             307-311 Castle Peak Road,
     hm-tin@xhsl.com.hk                           Kwai Chung, N.T., Hong Kong                    Marsco Hexol International Ltd.
                                                  Tel (852) 2904-6215                            Room 1402 Yu Sung Boon Building,
                                                  Fax (852) 2904-6235                            107-111 Des Voeux Road,
                                                  info@eme.com.hk                                Central, Hong Kong
                                                                                                 Tel (852) 2527-3380
                                                                                                 Fax (852) 2520-1526
                                                                                                 msahk@netvigator.com
Renford Marine Equipment China Ltd.    Man Sang (China) Co. Ltd.                     Branscombe Marine Consultants Ltd.
Room 501, Laws Commercial Plaza,       Shop A, G/F Good Prospect Factory Building,   2/F, B37 Ting Fook Villas,
788 Cheung Sha Wan Rd,                 33 - 35 Wong Chuk Hang Road, Hong Kong        Wang Chau, Yuen Long, N.T., Hong Kong
Kowloon, Hong Kong                     Tel (852) 2858-9622                           Tel (852) 9089-1600
Tel (852) 2742-7111                    Fax (852) 2858-9569                           branscombe@netvigator.com
Fax (852) 2742-7171                    hk@mansangco.com
info@renford.com                                                                     Cargo Inspection & Consultant Limited
                                       Shiu On Loong Co. Ltd.                        4/F Lee Chau Commercial Building,
Storm Force Marine Ltd.                Shop A, G/F Good Prospect Factory Building,   11 Hart Avenue, Kowloon, Hong Kong
501 Dominion Centre,                   33 - 35 Wong Chuk Hang Road, Hong Kong        Tel (852) 2721-0696
43-59 Queen’s Road East,               Tel (852) 2544-5791                           Fax (852) 2311-6054
Wanchai, Hong Kong                     Fax (852) 2544-0139                           cichk@cargoinspection.com.hk
Tel (852) 2866-0114                    sol@solhk.com
Fax (852) 2866-9260                                                                  Carmichael & Clarke Co, Ltd.
sales@stormforcemarine.com             Shun Hing Global Services Limited             17/F Jade Centre,
                                       Rm 6, 9/F Favor Industrial Center,            98 Wellington Street,
Voith Turbo Ltd.                       2-6 Kin Hong Street, Kwai Chung,              Central, Hong Kong
908 Guardforce Centre,                 N.T., Hong Kong                               Tel (852) 2581-2678
3 Hok Yuen Street East,                Tel (852) 9668-7617                           Fax (852) 2581-2722
Hung Hom, Kowloon, Hong Kong           Fax (852) 2657-4402                           carmi@hkstar.com
Tel (852) 2774-4083                    sales@shglobal.com.hk
Fax (852) 2362-5676                                                                  Crawford (Hong Kong) Ltd.
willie.yeung@voith.com                 Sunitex Petrochemical (Far East) Co. Ltd.     24/F Sunshine Plaza,
                                       Room 709, 7/F Harbour Crystal Centre,         353 Lockhart Road, Wanchai, Hong Kong
Wellbond Company                       100 Granville Road, Tsim Sha Tsui East,       Tel (852) 2526-5137
Room A 7/F Wai Shing Mansion,          Kowloon, Hong Kong                            Tel (852) 9094 2868
62 Wai Ching Street,                   Tel (852) 2311-3300                           Fax (852) 2845-0598
Jordan, Kowloon, Hong Kong             Fax (852) 2312-2638                           sumith.magamage@crawco.com.hk
Tel (852) 2409-9788                    sunitex@netvigator.com
Fax (852) 2783-0087                                                                  DLS Kiwi Marine Ltd.
wellbond@netvigator.com                United Shipchandlers Limited                  Flat D, 3/F Block 36, Siena Two B,
                                       8/F Tung Cheong Industrial Building,          Greenvale Village,
                                       177-181 Yeung Uk Road,                        Discovery Bay,
                                       Tsuen Wan, N.T., Hong Kong                    Lantau Island, Hong Kong
                                       Tel (852) 2816-7228                           Tel (852) 9032-5452
                                       Fax (852) 2816-7107                           Tel (852) 9136-2082
                                       info@unitedshipchandlers.com                  jseale@portlite.com
     International Shipping Agencies Ltd.                                                      Houlder Insurance Brokers Far East Ltd.
     Office A, 3/F Eton Building,                                                              18/F China Merchants Tower,
     288 Des Voeux Road Central, Hong Kong                                                     Shun Tak Centre,
     Tel (852) 2543-8848                                                                       168-200 Connaught Road,
     Fax (852) 2815-3275                                                                       Central, Hong Kong
     shipreg@pg02.com                                                                          Tel (852) 2890-5302
                                                                                               Fax (852) 2577-7545
     J. D. Wort & Co. Ltd.                                                                     hib@cmhoulder.com
     Suite B6 29/F Causeway Centre,
     28 Harbour Road, Wanchai, Hong Kong                                                       Lambert brothers Insurance Brokers
     Tel (852) 2802-1019                                                                       (HK) Ltd.
     Fax (852) 2827-2355                                                                       1608 Asian House, 1 Hennessy Road,
     jdwco@netvigator.com                                                                      Wanchai, Hong Kong
                                                                                               Tel (852) 2877-7777
     KEE Marine Service & Consultant Ltd.                                                      Fax (852) 2877-7666
     Room 601 Nam Wo Hong Building,                                                            lbib@lambertbrothers.com.hk
     148 Wing Lok Street,
     Sheung Wan, Hong Kong                                                                     Marsh (Hong Kong) Ltd.
     Tel (852) 2116-1663                                                                       26/F Central Plaza,
     Tel (852) 2851-7925                                                                       18 Harbour Road, Wanchai, Hong Kong
     Fax (852) 2851-6379                                                                       Tel (852) 2301-7000
     info@keemarine.com                                                                        Fax (852) 2513-7135
                                                                                               Charles.kh.chow@marsh.com
     M L P Marine Services Ltd.
     Unit 2207 Ricky Centre,
     36 Chong Yip Street,
     Kwun Tong, N.T., Hong Kong
     Tel (852) 2851-3328
     Fax (852) 2543-5813
     mlpma@biznetvigator.com
                                       Ince & Co
                                       3801-6 ICBC Tower,
                                       Citibank Plaza, 3 Garden Road, Central, Hong
                                       Kong
                                       Tel (852) 2877-3221
                                       Fax (852) 2877-2633
                                       hkinfo@incelaw.com
                                       Laracy & Co
                                       3701 Tower One Lippo Centre,
                                       89 Queensway, Admiralty, Hong Kong
                                       Tel (852) 2525-7525
                                       Fax (852) 2525-7526
                                       info@laracyco.com
     Eletek Technology Limited                     Ho Yat Logistics Co., Ltd.                   Hempel (China) Ltd.
     Unit 1205-06 Sunbeam Center,                  17 Tsing Keung St.,                          Unit 1509-16, 15/F Floor BEA Tower,
     27 Shing Yip Street, Kwun Tong,               Tsing Yi, N.T., Hong Kong.                   Millennium City 5,
     Kowloon, Hong Kong                            Tel (852) 2433-6133                          418 Kwun Tong Road, Kowloon, Hong Kong
     Tel (852) 2343-9833                           Fax (852) 2433-6178                          Tel (852) 2857-7663
     Fax (852) 2343-2223                           barge@hoyat-Logistics.com.hk                 Fax (852) 2517-6311
     service@eletek.com                                                                         dac@hempel.com
     sales@eletek.com                              Tai Wah Sea/Land Heavy
                                                   Transportation Ltd                           International Paint (Hong Kong) Ltd.
     Express Marine Electronics Company            15/F 48 Man Fai Building,                    Unit 2005, 20/F
     Limited                                       Ferry Point, Kowloon, Hong Kong              148 Electric Rd,
     Unit 2, 23/F Man Shing Industrial Building,   Tel (852) 2388-7578                          North Point, Hong Kong
     307-311 Castle Peak Road,                     Fax (852) 2780-6812                          Tel (852) 2508-7700
     Kwai Chung, N.T., Hong Kong                   taiwah@taiwahhk.com                          Fax (852) 2827-9488
     Tel (852) 2904-6215                                                                        spandau.chin@akzonobel.com
     Fax (852) 2904-6235                           Transward Ltd.
     info@eme.com.hk                               Room 1803 18/F,                              Jotun COSCO Marine Coatings (HK)
                                                   118 Connaught Road West,                     Limited
     Northrop Grumman Sperry                       Sheung Wan, Hong Kong                        Room 1208 Stanhope House,
     Marine Asia Inc.                              Tel (852) 2520-1138                          734 King’s Road,
     28/F 69 Jervois Street,                       Fax (852) 2527-7732                          Quarry Bay, Hong Kong
     Sheung Wan, Hong Kong                         twd_info@transward.com                       Tel (852) 2527-6466
     Tel (852) 2581-9122                                                                        Fax (852) 2861-1307
     Tel (852) 2853-2363                                                                        customer.service.hongkong@jotun.com
     Fax (852) 2851-9967
     edison.triguero@sperry.ngc.com                                                             KCC Corporation
                                                                                                Room 1903 Goldmark,
     Panama Shipping Consultants Inc.                                                           502 Hennessy Road,
     Office A, 3/F Eton Building,                                                               Causeway Bay, Hong Kong
     288 Des Voeux Road C.,                                                                     Tel (852) 2577-0476
     Hong Kong Tel (852) 2543-8848                                                              Tel (852) 2577-0489
     Fax (852) 2815-3275                                                                        Fax (852) 2577-0497
     shipreg@pg02.com                                                                           noory@kccworld.co.kr
                                                                                                kcchk@email.hk.net
     Radio Holland Hong Kong Co., Ltd.
     Room 806 Join-in Hang Sing Centre,                                                         PPG Performance Coatings (Hong Kong)
     71-75 Containter Port Road,                                                                Limited
     Kwai Chung, N.T., Hong Kong                                                                1010-1015 Cityplaza One, 1111 King’s Road,
     Tel (852) 2423-9007                                                                        Tai Koo Shing, Hong Kong
     Fax (852) 2420-9284                                                                        Tel (852) 2545-2821
     rhhk@radioholland.hk                                                                       Fax (852) 2544-6109
                                                                                                sigma.hongkong@ppg.com
     SpeedCast Limited
     9/F Phase II China Taiping Tower,
     8 Sunning Road, Causeway Bay,Hong Kong
     Tel (852) 3919-6800
     Fax (852) 3919-6880
     seacast@speedcast.com
     Wellbond Company
     RoomA 7/F Wai Shing Mansion,
     62, Wai Ching Street,
     Jordan, Kowloon, Hong Kong
     Tel (852) 2409-9788
     Fax (852) 2783-0087
     wellbond@netvigator.com
Fortune Ferry Co Ltd.                  Hong Kong Pilots Association Ltd.   ABC Shipping (Hong Kong) Limited
North Point East,                      1601-1606, Hong Kong Plaza,         Room 1104, 11/F The Centre Mark,
Passenger Pier East Berth,             186-191 Connaught Road West,        287-299 Queen’s Road Central,
North Point, Hong Kong                 Hong Kong                           Sheung Wan, Hong Kong
Tel (852) 2994-8155                    Office hours:                       Tel (852) 2866-6849
Fax (852) 2565-8683                    Tel (852) 2803-0840                 Fax (852) 2661-3285
info@fortuneferry.com.hk               24 hours:                           abc@abcs.hk
                                       Tel (852) 2803-0003
Laissez Faire Co                       General:                            Ahlers Bridge Hong Kong Ltd.
M46, M/F Sino Centre,                  Fax (852) 2803-0859                 Unit 2201-2202, 22ndJava Road 108
582-592 Nathan Rd,                     Pilot booking:                      Commercial Centre,
Kowloon, Hong Kong                     Fax (852) 2803-0860                 108 Java Road, North Point, Hong Kong
Tel (852) 2770-8066                    Fax (852) 2803-0861                 Tel (852) 2511-9650
Tel (852) 2770-4346                    Tlx 62062 HKPA HX                   Fax (852) 2596-0750
Fax (852) 2782-5366                    enquiry@hkpilots.com                Tlx 2596-0751
info@laissezfaire.imsbiz.com.hk                                            info@hk.ahlers.com
     CGW Logistics Co. Ltd.                     Evergreen Marine (Hong Kong) Ltd.              Interocean Shipping Company Ltd.
     1203 Tung Ning Building,                   Marine Transportation 22-23 Floor,             4/F Harbour Commercial Building,
     2 Hillier St, Sheung Wan, Hong Kong        Harcourt House,                                122 Connaught Rd, Central, Hong Kong
     Tel (852) 2151-9151                        39 Gloucester Rd,                              Tel (852) 2541-2634
     Fax (852) 2151-9171                        Wanchai, Hong Kong                             Fax (852) 2541-6449
     Tlx 33634 CGWTL HX                         Tel (852) 2825-8211                            info@interocean.com.hk
     cgwlhk@netvigator.com                      Fax (852) 2845-9162
                                                                                               KC Maritime Ltd
     Chellaram Shipping (Hong Kong) Ltd.        Fairmont Shipping (H.K.) Limited               15th Floor, South China Building
     1801 Dina House,                           21/F Fairmont House,                           1 Wyndham Street
     11 Duddell Street,                         8 Cotton Tree Drive,                           Central, Hong Kong
     Central, Hong Kong                         Central, Hong Kong                             Tel: 2523-3161
     Tel (852) 2973-6111                        Tel (852) 2521-8338                            Fax: 2912-7001
     Fax (852) 2971-1400                        Fax (852) 2810-4560
     mail@chellship.com                         vcrmnt@fairmontshipping.com                    Kingbest Shipping Ltd.
                                                info@fairmontshipping.com                      Office B, 11/F, Tower 1 Tern Centre,
     Delmas HK Ltd.                                                                            No.237 Queen’s Road Central, Hong Kong
     17/F, Tower B Manulife Financial Centre,   Fenwick Shipping Services Ltd.                 Tel (852) 2815-2285
     223-231 Wai Yip Street,                    Unit 5, 11/F, Block A, Sea View Estate,        Fax (852) 2815-8955
     Kwun Tong, Kowloon, Hong Kong              2-8 Watson Road,                               Tlx 94075249 KBSH G
     Tel (852) 2802-2086                        North Point, Hong Kong                         general@kingbest.com.hk
     Tel (852) 3111-4810                        Tel (852) 2508-1282
     Fax (852) 2802-1966                        Fax (852) 2510-7550                            Kingstar Shipping Limited
     hka.delmashk@delmas.com                    fss@fenwick.hk                                 Room 5011 Hopewell Centre,
                                                                                               183 Queen’s Road East,
     Delphis HK Limited                         Greathorse Shipping Holdings Ltd               Wanchai, Hong Kong
     Room 3206, Lippon Centre Tower Two         1401 Jardine House, I Connaught Place          Tel (852) 2576-2611
     89 Queensway, Hong Kong                    Central. Hong Kong                             Fax (852) 2576-3043
     Tel: 2861-3880                             Tel: 2160-5100                                 Tlx 81264 KSHPG
     Fax: 2861-3881                             Fax: 2160-5199                                 kingstar@hkstar.com
     www.delphis.be                             reception@tigergroup.hk
                                                                                               Kong Hing Agency Limited
     East Asia Shipping (Hong Kong) Ltd.        Gold Bridge Shipping Ltd.                      Room 1408 Cosco Tower,
     22/F Dominion Centre,                      Room 2006-10                                   183 Queen’s Road Central, Hong Kong
     43-59 Queen’s Road East, Hong Kong         China Insurance Group Building,                Tel (852) 2534-3700
     Tel (852) 2876-0608                        141 Des Voeux Road Central, Hong Kong          Fax (852) 2534-3754
     Fax (852) 2876-0665                        Tel (852) 2854-2318                            Tlx (051) 94075275
     Tlx 73636 CENMA HX                         Fax (852) 2854-4704                            ops@konghing.com.hk
     cenmari@pacificgroup.com.hk                Fax (852) 2165-5828
                                                marketing@gbship.com                           Kristian Jebsens Ltd.
     East West Maritime Limited                 operation@gbship.com                           15/F Qualipak Tower,
     Room 503, 5/F Park Tower,                                                                 122 Connaught Road West, Hong Kong
     15 Austin Road, Jordan,                    Grandfame Ship Management Ltd.                 Tel (852) 2861-0068
     Kowloon, Hong Kong                         2106, 21/F, 118 Connaught Road West,           Fax (852) 2520-6785
     Tel (852) 2739-1911                        Hong Kong                                      genenq@krisjeb-ffl.com
     Fax (852) 2369-4820                        Tel (852) 2375-2068
     ewsa@ewsa.com.hk                           Fax (852) 2858-1389                            Kwai Kong Shipping Co, Ltd.
                                                gfship@gfship.hk                               Room 207 Wayson Commercial Building,
     Eternity Shipping Agencies Ltd.                                                           28 Connaught Road West, Hong Kong
     28C Yee On Building,                       Hong Kong Ming Wah Shipping Co Ltd             Tel (852) 2548-0100
     26 East Point Road,                        Unit 3701, China Merchants Tower, Shun Tak     Fax (852) 2559-2926
     Causeway Bay, Hong Kong                    Centre
     Tel (852) 2545-1212                        168-200 Connaught Road                         Luen Hing Shipping Co, Ltd.
     Fax (852) 2541-2085                        Central, Hong Kong                             Room 48, 15/F Man Cheong Building,
     eternity@esal.com.hk                       Tel: 2517-2128                                 Man Cheong St, Ferry Point,
                                                Fax: 2547-2921                                 Kowloon, Hong Kong
     Euronav Hong Kong limited                  mwex@hkmw.com.hk                               Tel (852) 2388-0606
     Room 3206, Lippon Centre Tower Two                                                        Fax (852) 2710-9115
     89 Queensway, Hong Kong                    International Maritime Carriers Ltd            info@luenhingshipping.com
     Tel: 2861-3880                             Room 1705-08, St George’s Building
     Fax: 2861-3881                             2 Ice House Street                             Maritime Capital Shipping (HK) Ltd.
     www.euronav.be                             Central, Hong Kong                             Unit 2203, 22/F Golden Centre,
                                                Tel: 2820-1100                                 188 Des Voeux Road Central, Hong Kong
                                                Fax: 2596-0050                                 Tel (852) 2164-6100
                                                imcdm@imcgroup.com.hk                          Fax (852) 2522-5090
                                                                                               info@maritime-capital.com
     China Shipping (H.K.) Marine Co Ltd           Asia Maritime                                    Belize Bureau of Shipping Services
     32nd Floor, China Merchants Tower, Shun Tak   DaysOnTheBay Co. Ltd.                            Hong Kong
     Centre,                                       8A Greenfield Court, Discovery Bay,              Office A, 3/F Eton Building,
     168-200 Connaught Road Central                Lantau Island, N.T., Hong Kong                   288 Des Voeux Road Central, Hong Kong
     Hong Kong                                     Tel (852) 2987-8870                              Tel (852) 2543-8848
     Tel: 2815-0038                                Tel (852) 9304 9987                              Fax (852) 2815-3275
     Fax: 2543-4760                                Fax (852) 2987-7780                              shipreg@pg02.com
     cshkm@netvigator.com
                                                   Greater China Transport Logistics                Hong Kong Shipping Registry
     OSM Maritime Services Ltd                     28/F Soundwill Plaza,                            3/F Harbour Building,
     Unit 3403, 118 Connaught Road West            38 Russell Street,                               38 Pier Road, Central, Hong Kong
     Hong Kong                                     Causeway Bay, Hong Kong                          Tel (852) 2852-4387
     Tel: 2915-2866                                Tel (852) 2106-1898                              Fax (852) 2541-8842
     Fax: 2317-6998                                Fax (852) 2516-7094                              Tlx 65443 MARHQ HX
     osmhk@osm.no                                  info@GCTL8.com                                   hksr@mardep.gov.hk
Sunitex Petrochemical (Far East) Co. Ltd.                                           Crawford (Hong Kong) Ltd.
Room 709, 7/F Harbour Crystal Centre,                                               24/F Sunshine Plaza,
100 Granville Road,                                                                 353 Lockhart Road,
Tsim Sha Tsui East, Kowloon, Hong Kong                                              Wanchai, Hong Kong
Tel (852) 2311-3300                                                                 Tel (852) 2526-5137
Fax (852) 2312-2638                                                                 Tel (852) 9094 2868
sunitex@netvigator.com                                                              Fax (852) 2845-0598
                                                                                    sumith.magamage@crawco.com.hk
     Delta Marine Services Ltd.                 Kay Leung Company Limited                      OMIC (Hong Kong) Ltd .
     Unit 1803, 18/F Fook Yip Building,         Unit 2214 Technology Park,                     Flat A, 2/F On Fook Industrial Building.,
     53-57 Kwai Fung Crescent,                  18 On Lai Street, Shatin, Hong Kong            41 Kwai Fung Crescent,
     Kwai Chung, N.T., Hong Kong                Tel (852) 2543-3308                            Kwai Chung, N.T., Hong Kong
     Tel (852) 2153-9233                        Fax (852) 2815-2823                            Tel (852) 2424-4008
     Fax (852) 2153-9237                        kay@kayleung.com.hk                            Tel (852) 2424-1221
     general@deltams.com.hk                                                                    Fax (852) 2480-4638
                                                KEE Marine Service & Consultant Ltd.           general@omic.com.hk
     DLS Kiwi Marine Ltd.                       Room 601 Nam Wo Hong Building,
     Flat D, 3/F Block 36, Siena Two B,         148 Wing Lok Street,                           PacMarine Services (HK) Ltd.
     Greenvale Village,                         Sheung Wan, Hong Kong                          7/F Hutchison House, 10 Harcourt Road,
     Discovery Bay, Lantau Island,              Tel (852) 2116-1663                            Central, Hong Kong
     Hong Kong                                  Tel (852) 2851-7925                            Tel (852) 2233-7177
     Tel (852) 9032-5452                        Fax (852) 2851-6379                            Fax (852) 2571-9462
     Tel (852) 9136-2082                        info@keemarine.com                             hongkong@pacmarine.com
     jseale@portlite.com
                                                M L P Marine Services Ltd.                     Peter Y. C. Ng & Associates Ltd.
     Far East Marine Surveyors Ltd.             Unit 2207, Ricky Centre,                       6/F Golden Star Building,
     Room 2904, 29/F West Tower,                36 Chong Yip Street,                           20-24 Lockhart Road, Wanchai, Hong Kong
     Shun Tak Centre,                           Kwun Tong, Kowloon, Hong Kong                  Tel (852) 2528-4018
     200 Connaught Road Central, Hong Kong      Tel (852) 2851-3328                            Tel (852) 9480-2969(After Office Hours)
     Tel (852) 2815-1708                        Fax (852) 2543-5813                            Fax (852) 2861-2478
     Fax (852) 2543-1349                        mlpma@biznetvigator.com                        survey@peterngco.newtthk.com
     ccsfe@netvigator.com
                                                Marinasia Limited                              Peterson Far East Ltd.
     H and H Consultants & Survey Limited       Unit 102, 1/F Charmay Centre,                  17/F Yue Thai Commercial Building,
     Flat D, 12/F On Fuk Ind. Building,         12 Ka Hing Road,                               128 Connaught Rd Central,
     41-45 Kwai Fung Crescent,                  Kwai Chung, N.T., Hong Kong                    Sheung Wan, Hong Kong
     Kwai Fong, N.T., Hong Kong                 Tel (852) 2541-5882                            Tel (852) 2396-7186
     Tel (852) 2439-9111                        Fax (852) 2541-3060                            Fax (852) 2396-5434
     Fax (852) 2439-6222                        admin@marinasia.com.hk                         peterson.fe@attglobal.net
     info@hench.com.hk
                                                Marine Surveys & Engineering                   Petrochem & Marine Services Hong
     Hench Public Marine & Cargo Survey         Services Ltd.                                  Kong Ltd.
     (H.K.) Ltd.                                Room 3208 Central Plaza,                       Room 1101, 11/F Technology Plaza,
     12/F, Flat D, On Fuk Ind. Building,        18 Harbour Road,                               29-35 Sha Tsui Road,
     No.41-45, Kwai Fung Crescent,              Wan Chai, Hong Kong                            Tsuen Wan, N.T., Hong Kong
     Kwai Chung, N.T., Hong Kong                Tel (852) 9388-6475                            Tel (852) 2402-9010
     Tel (852) 2439-9111                        Fax (852) 2661-6116                            Fax (852) 2492-3786
     Fax (852) 2439-6222                        mses@fastmail.fm                               pmshkltd@netvigator.com
     info@hench.com.hk
                                                Maritime Services (HK) Co Ltd.                 Sino Marine Survey Service Co.
     Honest Overseas Marine Services Ltd.       12B Hang Lung House,                           Unit 04, 21/F
     Room 607 Yue Fung Industrial Building,     184-192, Queen’s Rd,                           Workingberg Commercial Building,
     35-45 Chai Wan Kok Street,                 Central, Hong Kong                             41-47 Mable Road, North Point, Hong Kong
     Tsuen Wan, N.T., Hong Kong                 Tel (852) 2851-0266                            Tel (852) 2384-9736
     Tel (852) 3582-4338                        Fax (852) 2542-2788                            Fax (852) 2815-0267
     Fax (852) 3522-7262                        msco@netvigator.com                            callsino@yahoo.com.hk
     operations@homs-marine.com
                                                MCW International Surveyors Ltd.               Standard Marine & Cargo Survey (Asia)
     Intertek Testing Services Hong Kong Ltd.   Room 2106-7 Fook Yip Building,                 Limited
     5B Garment Centre, 576 Castle Peak Road,   53-57 Kwai Fung Crescent,                      Suite 1210, Block II Golden Industrial Building,
     Kowloon, Hong Kong                         Kwai Chung, N.T., Hong Kong. Tel (852) 2410-   16 - 26 Kwai Tak Street,
     Tel (852) 2197-1838                        0911                                           Kwai Fong, N.T., Hong Kong
     Fax (852) 2307-0373                        Fax (852) 2424-3143                            Tel (852) 3145-0555
     gen.info@intertek.com                      mcw@mcwhk.com                                  Fax (852) 3145-0450
                                                                                               surveyor@standardmarine.corp.com.hk
     J & H Surveying Co. Ltd.                   Nippon Kaiji Kentei Kyokai
     Unit A, 12/F                               Hong Kong Office                               Toplis & Harding (Marine) Ltd.
     Chung Pont Commercial Buildings,           Unit A-B, 20/F Golden Sun Centre,              Suite 1105, 11/F AXA Tower,
     300 Hennessy Road,                         59-67 Bonham Strand West,                      Landmark East, 100 How Ming Street,
     Wanchai, Hong Kong                         Sheung Wan, Hong Kong                          Kwun Tong, Kowloon, Hong Kong
     Tel (852) 2519-6120                        Tel (852) 2807-0617                            Tel (852) 2866-7744
     Tel (852) 2519-8120                        Tel (852) 2807-1037                            Fax (852) 2858-2633
     Fax (852) 2519-3550                        Tel (852) 2807-1018                            general@toplishk.com
     wsk@jandhsurvey.com                        Fax (852) 2807-1327
                                                vivianli@nkkk.com.hk                           Union Star Surveyors Ltd.
                                                                                               Room 1008, 10/F, MTL Berth 1, Kwai Chung,
                                                                                               Hong Kong
                                                                                               Tel (852) 2424-5521
                                                                                               Fax (852) 2419-0467
                                                                                               survey@union-star.com.hk
     VTMS REGISTERED SHIPPING                    Boskalis International Bv                    Cheung Kee Marine Services Company
     AGENCIES                                    Rm 1702 Tower 1 China Hong Kong City         Limited
                                                 33 Canton Road                               13 A/F
     Anda Shipping Ltd                           Kowloon                                      9 Des Voeux Road West Sheung Wan
     Room B 12/F Ying Yu Building                Tel (852) 2376 2330                          Hong Kong
     99-101 Lai Chi Kok Road                     Fax (852) 2376 3489                          Tel (852) 2540 2777
     Mongkok, Kowloon                                                                         Fax (852) 2858 3102
     Tel (852) 2381 6566                         Bravo Marine Ltd
     Fax (852) 2302 4661                         21/F Des Voeux Commercial Centre             Chimbusco Pan Nation Shipping
                                                 212 Des Voeux Road Central Sheung Wan        Company Limited
     Anfari Shipbroking & Agency Limited         Hong Kong                                    9/F Luk Kwok Centre
     Room C-D 1/F Uwa Building                   Tel (852) 2854 4118                          72 Gloucester Road Wanchai
     18-19 Connaught Road West Sheung Wan        Fax (852) 2850 4217                          Hong Kong
     Hong Kong                                                                                Tel (852) 2851 0832
     Tel (852) 2851 3233                         Bright Glory Shipping Co Limited             Fax (852) 2850 5801
     Fax (852) 2851 2923                         Room 2611 China Merchants Tower Shun Tak
                                                 Centre                                       China Coast Maritime Ltd
     Anglo-Eastern Ship Management Ltd           168 Connaught Road Central                   Suite 17A 17/F Crawford Tower
     23/F Mlc Tower                              Hong Kong                                    99 Jervois Street Central
     248 Queen’s Road East Wanchai               Tel (852) 2541 6330 / 2541 6380              Hong Kong
     Hong Kong                                   Fax (852) 2547 1728                          Tel (852) 2851 7340
     Tel (852) 2863 6111                                                                      Fax (852) 2851 7351
     Fax (852) 2861 2419                         Candimar Limited
                                                 Room 2507 25/F Ing Tower                     China Merchants Shipping And
     Anphi Shipping Co Ltd                       308 Des Voeux Road Central Central           Enterprises Co Ltd
     Rm A 7/F Fui Nam Building                   Hong Kong                                    12/F
     48-51 Connaught Road West Sheung Wan        Tel (852) 2545 6377                          152-155 Connaught Road C
     Hong Kong                                   Fax (852) 2854 2409                          Hong Kong
     Tel (852) 2548 0821                                                                      Tel (852) 2852 7600
     Fax (852) 2517 0839                         Central Maritime Ltd                         Fax (852) 2541 2084
                                                 22/F Dominion Centre
     Apl Co. Pte Ltd                             43-59 Queen’s Road East Wanchai              China Rich Shipping Company Limited
     Room 1007 10/F Office Complex               Hong Kong                                    Room 2301 23/F Wing Tuck Commercial
     HK Int’l Distribution Ctr Terminal 4        Tel (852) 2876 0608                          Centre
     18 Container Port Rd South Kwai Chung N T   Fax (852) 2876 0665                          177-183 Wing Lok Street Sheung Wan
     Tel (852) 2614 6072                                                                      Hong Kong
     Fax (852) 2614 6976                         Certain Express International Limited        Tel (852) 2851 6621
                                                 Units A & B 6/F Wui Tat Centre               Fax (852) 2851 6625
     Asia & H K Shipping Limited                 55 Connaught Road West
     Rm B 13/F Wui Tat Centre                    Hong Kong                                    China Shipping (Hong Kong)
     55 Connaught Rd West Sheung Wan             Tel (852) 2108 9181                          Agency Co Ltd
     Hong Kong                                   Fax (852) 2108 4272                          Rm 3207-3209 32/F
     Tel (852) 3107 0562                                                                      118 Connaught Road West
     Fax (852) 3107 0563                         Cgw Logistics Co Limited                     Hong Kong
                                                 Rm 1203 Tung Ning Building                   Tel (852) 2858 1727
     Asian Express Line Limited                  2 Hillier Street                             Fax (852) 2858 0277
     Rm 1202 12/F Bangkok Bank Building          Hong Kong
     18 Bonham Strand West Sheung Wan            Tel (852) 2151 9151                          China Shipping Container Lines (HK)
     Hong Kong                                   Fax (852) 2151 9171                          Agency Co Ltd
     Tel (852) 2156 1780 / 2232 7778                                                          59/F One Island East
     Fax (852) 2543 3466 / 2492 4428             Chancefit Shipping Co Ltd                    18 Westlands Road Island East
                                                 Room 01 13/F Multifield Centre               Hong Kong
     Ben Line Agencies (HK)Ltd                   426 Shanghai Street Yau Ma Tei               Tel (852) 2815 3800 / 22489352-Ops
     Room 2702 Bonham Trade Centre               Kowloon                                      Fax (852) 2851 3013
     50 Bonham Strand Sheung Wan                 Tel (852) 2546 5557
     Hong Kong                                   Fax (852) 3419 0579                          China Yantai Shipping Co Ltd
     Tel (852) 2893 4307 / 28538346(Op)                                                       1509 Wing Tuck Commercial Centre
     Fax (852) 2893 4377                         Cheng Lie Navigation (HK)Co Ltd              177 Wing Lok Street West Sheung Wan
                                                 2009-2012 Nan Fung Tower                     Hong Kong
     Bernhard Schulte Shipmanagement             173 Des Voeux Road Central Sheung Wan        Tel (852) 2815 3230
     (Hong Kong)Limited                          Hong Kong                                    Fax (852) 2858 3199
     Room 2602 K Wah Centre                      Tel (852) 2280 2212
     191 Java Road North Point                   Fax (852) 2541 6064                          Chu Kong Agency Co Ltd
     Hong Kong                                                                                8/F-9/F Chu Kong Shipping Tower
     Tel (852) 2597 1300                         Cheoy Lee Shipyards Limited                  143 Connaught Road Central
     Fax (852) 2561 8803                         89 & 91 Hing Wah Street West                 Hong Kong
                                                 Lai Chi Kok                                  Tel (852) 2859 1450/28591462-468
                                                 Kowloon                                      Fax (852) 2858 0003
                                                 Tel (852) 2307 6333
                                                 Fax (852) 2307 5577
     Exact Profit Limited                   Fujian Shipping Enterprises Ltd               Gulf Agency Co (HK)Ltd
     Room 901 9/F Harcourt House            Room 901 9/F Bupa Centre                      Flat 05-07 23/F Millennium City 6
     39 Gloucester Road Wan Chai            141 Connaught Road West                       392 Kwun Tong Road Kwun Tong
     Hong Kong                              Hong Kong                                     Kowloon
     Tel (852) 2727 3886                    Tel (852) 2544 1868                           Tel (852) 2723 6306
     Fax (852) 2754 2754                    Fax (852) 2544 0585/2544 0717                 Fax (852) 2314 7300
     Excel Winning (Hong Kong) Limited      Full Speed Maritime Ltd                       H & T International Transportation
     Room 1601 16/F Hollywood Plaza         Block 1 10/F Tern Centre                      Limited
     610 Nathan Road Mongkok                237 Queen’s Road Central Sheung Wan           Room 01-04 5/F China Merchants Building
     Kowloon                                Hong Kong                                     152-155 Connaught Road Central
     Tel (852) 2191 9051                    Tel (852) 2542 2323                           Hong Kong
     Fax (852) 2191 9076                    Fax (852)2542 0101                            Tel (852) 2543 0708
                                                                                          Fax (852) 2543 0161
     Fairwind Shipping Company Limited      Gold Bridge Shipping Ltd
     15/F Seaview Comm Bldg                 2006-10 20/F China Insurance Group Building   Haifa (Hong Kong) Marine Ltd
     21-24 Connaught Rd W Sheung Wan        141 Des Voeux Road Central Sheung Wan         1/F Tai King Building
     Hong Kong                              Hong Kong                                     190 Wing Lok Street Sheung Wan
     Tel (852) 2975 8822                    Tel (852) 2854 2318                           Hong Kong
     Fax (852) 2975 8233                    Fax (852) 2854 4704                           Tel (852) 2857 1265
                                                                                          Fax (852) 2559 8045
     Farenco Freight Services Limited       Gold Star Shipping (HK)Limited
     2/F Yuen Fat Administration Building   Room 2103 21/F Bonham Trade Centre            Hamburg Sud Hong Kong Limited
     Yen Chow Street West                   50 Bonham Strand East Sheung Wan              36/F Two International Finance Centre
     West Kowloon Reclamation Shamshuipo    Hong Kong                                     8 Finance Street Central
     Kowloon                                Tel (852) 2543 5559/ 21519151(Ops)            Hong Kong
     Tel (852) 2828 3668                    Fax (852) 2581 1330/ 21519171(Ops)            Tel (852) 3478 8121 - 34788124
     Fax (852) 2827 5584                                                                  Fax (852) 3478 8020
                                            Golden Fortune Shipping Co Ltd
     Fesco Lines Hong Kong Ltd              Rm 1508-1513 Office Tower                     Hanjin Shipping Co Ltd
     40/F 248 Queen’s Road East             Convention Plaza 1 Harbour Road               Room 3801 38/F Tower 6 The Gateway
     Wanchai                                Wanchai Hong Kong                             Harbour City
     Hong Kong                              Tel (852) 2824 6467                           9 Canton Road Tsimshatsui
     Tel (852) 2119 8642                    Fax (852) 2824 1431                           Kowloon (Attn: Accounts Department)
     Fax (852) 2581 1398/2581 1234                                                        Tel (852) 2487 2147 2507 1100
                                            Grand Bulk Shipping Limited                   Fax (852) 2419 0143/2615 0677
     Flamely Shipping Limited               Unit 909 9/F China Merchants Tower
     Room 903 Alliance Building             Shun Tak Centre 200 Connaught Road Central    Hapag-Lloyd (China) Ltd
     130-136 Connaught Road Central         Hong Kong                                     35/F The Gateway Tower Ii
     Hong Kong                              Tel (852) 2587 8163                           25 Canton Road Tsimshatsui
     Tel (852) 2180 8585                    Fax (852) 2587 8161                           Kowloon
     Fax (852) 2180 8586                                                                  Tel (852) 2768 1623
                                            Grand China Logistics (Hong Kong)             Fax (852) 2401 7848
     Fleet Management Limited               Limited
     11/F Dah Sing Financial Centre         Room 302B-304                                 High Way Shipping Ltd
     108 Gloucester Road Wanchai            3/F South Seas Centre Tower                   Rm F 9/F Imperial Building
     Hong Kong                              75 Mody Road Tst East                         58 Canton Road Tsim Sha Tsui
     Tel (852) 2861 3511                    Kowloon                                       Kowloon
     Fax (852) 2528 1550                    Tel (852) 3100 0522                           Tel (852) 2311 5112-6
                                            Fax (852) 3102 9574                           Fax (852) 2367 2908
     Forever Agencies Ltd
     Flat 2 7/F Bupa Centre                 Grand Sunocean Shipping Limited               Hong Kong Dredging Ltd
     141 Connaught Road West                Unit 2119-2120 China Merchants Tower Shun     Lot No. 18-19 Tam Kon Shan Road
     Hong Kong                              Tak Ctr                                       North Tsing Yi Island
     Tel (852) 2803 0399                    168-200 Connaught Rd Central                  N.T. Hong Kong
     Fax (852) 2857 6692                    Hong Kong                                     Tel (852) 2772 9600
                                            Tel (852) 3915 1888                           Fax (852) 2772 7651
     Fortune Trading Company                Fax (852) 3914 6994
     23/F On Hong Comm Building                                                           Hong Kong North West Shipping
     145 Hennessy Road Wanchai              Grandfame Ship Management Ltd                 Management Limited
     Hong Kong                              Room 2106 21/F                                Room 3078 3/F Diamond Square
     Tel (852) 3756 9568                    118 Connaught Road West                       Shun Tak Centre
     Fax (852) 3582 3310                    Hong Kong                                     200 Connaught Road Central
                                            Tel (852) 2549 3298                           Hong Kong
     Frever Enterprise Ltd                  Fax (852) 2858 1389                           Tel (852) 2441 6143
     Room C 15/F Mandarin Building                                                        Fax (852) 2404 8392
     35 Bonham Strand East Sheung Wan       Green Island Shipping Agency Ltd
     Hong Kong                              201 Tower 2 Harbour Centre
     Tel (852) 2541 1705/2543 3239          8 Hok Cheung Street Hung Hom
     Fax (852) 2543 1940 Fse                Kowloon
                                            Tel (852) 2355 7130 / 2355 7131
                                            Fax (852) 2365 8493
Hongkong Salvage & Towage                     K L Ting Company Limited                Lubeca Marine Management (HK)Ltd
3/F Hud Administration Building               Unit A6 4/F Eton Bldg                   10/F Shum Tower
Sai Tso Wan Road Tsing Yi Island              288 Des Voeux Rd Central                268 Des Voeux Road Central Sheung Wan
New Territories                               Hong Kong                               Hong Kong
Tel (852) 2427 7477                           Tel (852) 2851 0987                     Tel (852) 2810 0600
Fax (852) 2480 5894                           Fax (852) 2851 0982                     Fax (852) 2537 1734
Hubline (Hong Kong) Limited                   Kanway Shipping Limited                 Mcl Macao Dragon Company Limited
17/F Chu Kong Shipping Building               Room 11-12 Blk 1 18/F Ever Gain Plaza   10/F
140-143 Connaught Road Central                88 Container Port Road Kwai Chung       88 Gloucester Road Wanchai
Sheung Wan                                    New Territories                         Hong Kong
Hong Kong                                     Tel (852) 2815 8833                     Tel (852) 3972 3600
Tel (852) 2167 8639                           Fax (852) 2581 9051                     Fax (852) 2877 6645
Fax (852) 2167 8139
                                              Kingbest Shipping Ltd                   Maersk Hong Kong Ltd
Hyaline Shipping (HK)Co Ltd                   Flat B 11/F Tower One Tern Centre       16-19/F One Kowloon
3/F Singga Commercial Centre                  237 Queen’ S Road Central               1-11 Wang Yuen Street Kowloon Bay
144 Connaught Road West Sheung Wan            Hong Kong                               Kowloon Hong Kong
Hong Kong                                     Tel (852) 2815 2285                     Tel (852) 3765 4111
Tel (852) 24196841(K.C.)                      Fax (852) 2815 8955                     Fax (852) 2110 9805
Fax (852) 25482385
                                              Kmtc (HK)Co Limited                     Mainland Navigation (Hong Kong) Co
Hyundai Merchant Marine (HK)Ltd               Rm 4501-3 45/F Manhattan Place          Limited
307-308A 3/F Office Tower                     23 Wang Tai Road Kowloon Bay            Rm 2902 29/F Metroplaza Tower Ii
HK Int’l Distribution Ctr                     Kowloon                                 223 Hing Fong Road Kwai Chung
18 Container Port Road Kwai Chung             Tel (852) 2851 9659                     New Territories
NT Hong Kong                                  Fax (852) 2944 9037                     Tel (852) 2280 2280
Tel (852) 2514 4100/2419 0118                                                         Fax (852) 2284 0284
Fax (852) 2419 0100                           Kong Hing Agency Ltd
                                              Rm 1408 Cosco Tower                     Mak Shui Cho & Son Ltd
Idm Liner Services Hk Limited                 183 Queen’s Road Central                19/F Shanghai Ind Inv’t Bldg
Flat 604 6/F Nam Wo Hong Building             Hong Kong                               48-62 Hennessy Road Wanchai
148 Wing Lok Street Sheung Wan                Tel (852) 2534 3724                     Hong Kong
Hong Kong                                     Fax (852) 2543 5622                     Tel (852) 2761 2722
Tel (852) 2544 0199                                                                   Fax (852) 2876 7016
Fax (852) 2544 0003                           Kristian Jebsens Ltd
                                              15/F Qualipak Tower                     Manfred Shipping Company Limited
Igor Shipping Agencies Ltd                    122 Connaught Road West                 Rm 804 8/F Jubilee Centre
1808 Shun Tak Centre                          Hong Kong                               18 Fenwick Street Wan Chai
200 Connaught Road Central Sheung Wan         Tel (852) 2861 0068                     Hong Kong
Hong Kong                                     Fax (852) 2520 6785                     Tel (852) 2155 1155
Tel (852) 2548 1378                                                                   Fax (852) 2155 1100
Fax (852) 2517 0533                           Kt Shipping Company Limited
                                              Room 1706 17/F Nathan Centre            Mariana Shipping (HK)Limited
Inchcape Shipping Services (HK)Ltd            580G-K Nathan Road Mongkok              Room 901-3 Bonham Trade Centre
Units 1802-1805 18/F                          Kowloon                                 50 Bonham Strand Sheung Wan
No.3 Lockhart Road Wanchai                    Tel (852) 2581 0862                     Hong Kong
Hong Kong                                     Fax (852) 2581 0863                     Tel (852) 3653 7600
Tel (852) 2786 1155                                                                   Fax (852) 2851 3351
Fax (852) 27443240                            Libo Maritime Management Limited
                                              Unit 2204-06 22/F Bonham Trade Centre   Marine - Group Shipping Agencies (HK)
Ism Shipping Agent Company                    50-54 Bonham Strand East Sheung Wan     Limited
Room B 21/F Kai Kwong Commercial Building     Hong Kong                               Room 1706 17/F Nathan Centre
332 Lockhart Road Wanchai                     Tel (852) 2802 1231                     580G-K Nathan Road Mongkok
Hong Kong                                     Fax (852) 2519 8196                     Kowloon
Tel (852) 2802 2815                                                                   Tel (852) 2581 0862
Fax (852) 2802 2817                                                                   Fax (852) 2581 0863
     Maruba Asia Limited                           Ocean Crew Servicing Co Limited              Portside Shipping Agencies Limited
     Rm 1705-7 17/F China Merchants Steam          Rm 401 4/F Keybond Commercial Building       Rm B 2/F Johnson Centre
     Navigation Building                           38 Ferry Street Yau Ma Tei                   13 Hau Fook Street Tsimshatsui
     152-155 Connaught Road Central                Kowloon                                      Kowloon
     Hong Kong                                     Tel (852) 2780 5998                          Tel (852) 2311 6299
     Tel (852) 3114 7288                           Fax (852) 2780 5981                          Fax (852) 2311 4822
     Fax (852) 3114 7000
                                                   Ocean World Lines Limited                    Prime Asia Logistics Limited
     Matson Shipping (Hong Kong) Limited           Room 3009 30/F                               Rm 1102 11/F Nam Wo Hong Bldg
     Suites 703-4 7/F Sun Life Tower The Gateway   118 Connaught Road West Sai Ying Pun         148 Wing Lok St
     Harbour City                                  Hong Kong                                    Hong Kong
     15 Canton Road                                Tel (852) 3621 0236                          Tel (852) 2854 9228
     Kowloon                                       Fax (852) 3753 0889                          Fax (852) 2854 9386
     Tel (852) 3798 8455
     Fax (852) 3585 7350                           Oocl Hong Kong Branch                        Prime Asia Shipping Ltd
                                                   Room 2308-9 23/F Park-In Commercial Centre   Rm 1102 11/F Nam Wo Hong Building
     Mediterranean Shipping Company (Hong          56 Dundas Street                             148 Wing Lok Street Sheung Wan
     Kong) Limited                                 Kowloon                                      Hong Kong
     Room 11-15 Blk 1 15/F Metroplaza              Tel (852) 3966 7955                          Tel (852) 2854 9228
     223 Hing Fong Road Kwai Fong                  Fax (852) 2531 8308(Opn)                     Fax (852) 2854 9386
     New Territories
     Tel (852) 2403 2323;(Opn)24032311             Optimist Shipping & Enterprises Ltd          Prosperity Steamship Co Ltd
     Fax (852) 2489 2002                           Room A                                       G/F
                                                   19/F Henan Electric Development Bldg         43 Ko Shing Street Sheung Wan
     Mol (HK)Agency Limited                        389 King’s Road North Point                  Hong Kong
     28/F Tower 1 Ever Gain Plaza                  Hong Kong                                    Tel (852) 2858 2218
     88 Container Port Rd Kwai Chung               Tel (852) 2881 8698                          Fax (852) 2858 3386 , 28032222
     New Territories                               Fax (852) 2895 5346
     Tel (852) 2823 8186                                                                        Ray Glory Shipping Limited
     Fax (852) 2529 7488                           P. M. S. Hong Kong Limited                   Rm 1005-6 10/F Tung Che Commercial Centre
                                                   Room 606 6/F Hong Kong Plaza                 246 Des Voeux Rd West
     Mutiara Pinewood Ltd                          188 Connaught Road West                      Hong Kong
     1303 Shun Tak Centre                          Hong Kong                                    Tel (852) 2857 2918
     200 Connaught Road Central Sheung Wan         Tel (852) 2517 3100                          Fax (852) 2857 2418
     Hong Kong                                     Fax (852) 2517 3287
     Tel (852) 2517 0308                                                                        Regional Container Lines (HK)Ltd
     Fax (852) 2517 0615                           Pacific International Lines (HK)Ltd          11/F King Kong Commercial Centre
                                                   19/F Fortis Bank Tower                       9-17 Des Voeux Road West
     N.Y.K. Line (HK)Ltd                           77-79 Gloucester Road Wanchai                Hong Kong
     Level 35 Kowloon Commerce Ctr Tower I         Hong Kong                                    Tel (852) 2912 1659 , 29121653
     51 Kwai Cheong Road Kwai Chung                Tel (852) 2876 5595                          Fax (852) 2912 1692 / 29121693
     New Territories                               Fax (852) 28765589
     Tel (852) 2864 5211                                                                        Rico Maritime Ltd
     Fax (852) 2865 1925                           Pan Ocean Shipping Agency Company            9/F Unit A Eib Centre
                                                   Limited                                      40-44 Bonham Strand East Sheung Wan
     Namsung Shipping Hong Kong Limited            Rm 2104 21/F Shun Tak Centre West Tower      Hong Kong
     Rm 1011 10/F Wing On Centre                   200 Connaught Road C                         Tel (852) 2850 6100
     111 Connaught Road Central Sheung Wan         Hong Kong                                    Fax (852) 2850 6702
     Hong Kong                                     Tel (852) 2559 8599
     Tel (852) 3426 3551                           Fax (852) 2559 8983                          Sam Lee Lightering & Transport Co Ltd
     Fax (852) 3426 9569                                                                        10/F Hua Hsia Building
                                                   Penavico (Hong Kong) Limited                 66 Gloucester Road Wanchai
     New Asean Marine Co Ltd                       Room 4008-09 40/F Cosco Tower                Hong Kong
     1B Lloyds Commercial Centre                   183 Queen’s Road Central                     Tel (852) 2865 5800-7
     8 Wing Lok Street Sheung Wan                  Hong Kong                                    Fax (852) 2865 4730
     Hong Kong                                     Tel (852) 2559 1996 ; 2135 2112
     Tel (852) 2815 6283                           Fax (852) 2549 8622, 2805 2129               San Lian Shipping Co Ltd
     Fax (852) 2815 6147                                                                        11/F Ngan House
                                                   Pentagon Shipping (Hong Kong) Limited        210 Des Voeux Road Central Sheung Wan
     NS United Shipping (HK)Co Limited             10/F Block A Tung Lee Commercial Building    Hong Kong
     Rm 1002 Ocean Centre Harbour City             91-97 Jervois Street Sheung Wan              Tel (852) 2545 0885
     5 Canton Road                                 Hong Kong                                    Fax (852) 2542 0731
     Kowloon                                       Tel (852) 25450135
     Tel (852) 2110 1228                           Fax (852) 2542 2970                          Shenfield Shipping Ltd
     Fax (852) 2370 9781                                                                        Rm 1609 16/F Kai Tak Commercial Building
                                                   People Express Ltd                           317-321 Des Voeux Road Central
     Ocean Base Co Ltd                             Rm 109 5/F Hip Sang Building                 Hong Kong
     Room 1304-5 New Victory House                 107-115 Hennessy Road Wanchai                Tel (852) 2573 7833
     93-103 Wing Lok Street Sheung Wan             Hong Kong                                    Fax (852) 2573 5933
     Hong Kong                                     Tel (852) 2520 1062, 2527 9997
     Tel (852) 2815 8989-5                         Fax (852) 2865 6239
     Fax (852) 2815 8800
Shun Lee Shipping Trading Co                Skh Shipping Limited                        Swire Shipping (Agencies) Ltd
Front Block 8/F Argyle House                5/F Tung Hip Comm Bldg                      Rm 1801 18/F Chinachem Exchange Square
47 Argyle Street Mongkok                    244-252 Des Voeux Road Central              1 Hoi Wan Street Quarry Bay
Kowloon                                     Hong Kong                                   Hong Kong
Tel (852) 2771 0803                         Tel (852) 2369 7226                         Tel (852) 2920 1029
Fax (852) 2770 5825                         Fax (852) 2367 6356                         Fax (852) 2615 1698
Shun Tak Shipping Co Ltd                    Smart Point Shipping Limited                T.S. Lines Limited
39/F Shun Tak Centre The Penthouse          Room 2712 27/F West Tower Shun Tak Centre   9/F C-Bons International Centre
200 Connaught Road Central Sheung Wan       200 Connaught Road Central                  108 Wai Yip Street
Hong Kong                                   Hong Kong                                   Kowloon
Tel (852) 2859 3111                         Tel (852) 2114 7058                         Tel (852) 3413 2000 / 34132112
Fax (852) 2859 3270                         Fax (852) 2543 9429                         Fax (852) 3413 2001, 34132007(Op)
Sino Eagle International Limited            South China Towing Co Ltd                   Taiship Development Ltd
Rm 1602 Tung Hip Comm Bldg                  3206 Singga Commercial Centre               10/F 9 Des Voeux Road West
244 - 252 Des Voeux Road Central            148 Connaught Road West Sheung Wan          Sheung Wan
Hong Kong                                   Hong Kong                                   Hong Kong
Tel (852) 2730 7236                         Tel (852) 2548 5205                         Tel (852) 2850 6305
Fax (852) 2244 5202                         Fax (852) 2858 2641                         Fax (852) 2850 6195
Sino Far East Shipping (Hong Kong)          Star Cruises (HK)Limited                    Topping Enterprises Ltd
Company Limited                             Rm 1501 Ocean Centre                        Room 505 5/F Wayson Commercial Building
Rm C5 Blk C 9/F On Lok Factory Building     5 Canton Road Tsimshatsui                   28 Connaught Road West
88-90 Kowloon City Road To Kwa Wan          Hong Kong (Attn: Port Department)           Hong Kong
Kowloon                                     Tel (852) 2378 2085                         Tel (852) 3104 2147
Tel (852) 2559 8161                         Fax (852) 2375 0102                         Fax (852) 3104 1536
Fax (852) 2559 6621
                                            Stx Pan Ocean (Hong Kong) Co Limited        Trans Overseas International Carrier
Sinopec (Hong Kong) Petroleum               33/F Cambridge House Taikoo Place           Room 1806 18/F Shun Tak Centre West Tower
Company Limited                             979 King’s Road Quarry Bay                  200 Connaught Road Central Sheung Wan
12/F Office Tower Convention Plaza          Hong Kong                                   Hong Kong
1 Harbour Road Wanchai                      Tel (852) 3655 6351                         Tel (852) 2549 0723-4
Hong Kong                                   Fax (852) 2598 9777                         Fax (852) 2858 1511
Tel (852) 2431 2992, 2593 7466
Fax (852) 2827 4178, 2519 7022              Sun Crown Shipping Limited                  Treasure Target Limited
                                            Unit B 15/F Amtel Building                  22/F Alliance Building
Sinotrans (HK)Shipping Ltd                  148 Des Voeux Road Central                  130-136 Connaught Road Central
1607-08 16/F Fortress Tower                 Hong Kong                                   Hong Kong
250 King’ S Road North Point                Tel (852) 2545 4128                         Tel (852) 2544 4141
Hong Kong                                   Fax (852) 2854 1933                         Fax (852) 2544 4144
Tel (852) 2559 7911
Fax (852) 2581 3336                         Sun Lord Co Ltd                             Tri-Orient Shipping Ltd
                                            1905-7 Wayson Commercial Building           1804 Central Plaza
Sinotrans Ship Management Limited           28 Connaught Road West Sheung Wan           18 Harbour Road Wanchai
21/F Great Eagle Centre                     Hong Kong                                   Hong Kong
23 Harbour Road Wanchai                     Tel (852) 2548 2661                         Tel (852) 2827 6883
Hong Kong                                   Fax (852) 2858 1708                         Fax (852) 2827 8559
Tel (852) 2827 1108
Fax (852) 2827 1398                         Sun Yuet Shipping Trading Co                United Arab Shipping Agency Company
                                            Flat 23 13/F New City Centre                (HK)Limited
Sitc Shipping Agency (HK)Company            2 Lei Yue Mun Road Kwun Tong                18/F Tower Two Ever Gain Plaza
Limited                                     Kowloon                                     88 Container Port Road
Room 2202-03 22/F Office Tower Convention   Tel (852) 2347 4718                         Kwai Chung Nt
Plaza                                       Fax (852) 2347 9725                         Tel (852) 2579 3793
1 Harbour Road Wanchai                                                                  Fax (852) 2856 9940
Hong Kong                                   Sunning Shipping Ltd
Tel (852) 2511 1557 , 28500326(Op)          4/F 402-403 Hua Qin Int’l Bldg              United Transportation (HK)Ltd
Fax (852) 81617207                          340 Queen’s Road Central                    Unit 1305 Leighton Centre
                                            Hong Kong                                   77 Leighton Road Causeway Bay
                                            Tel (852) 2541 2683                         Hong Kong
                                            Fax (852) 2544 8318                         Tel (852) 2881 5900
                                                                                        Fax (852) 2881 5293
     Universal Dockyard Ltd                     Winbond Shipping Limited                     Yu Hwa Shipping Company Limited
     44 Ko Fai Road                             Unit 1101-1102 & 1113B 11/F Office Tower 1   Room 1906 Golden Era Plaza
     Yau Tong Bay                               The Harbourfront 18-22 Tak Fung Street       39-55 Sai Yee Street Mongkok
     Kowloon                                    Hunghom Kowloon                              Kowloon
     Tel (852) 2952 1281                        Tel (852) 2724 2524                          Tel (852) 2308 1261
     Fax (852) 2191 3849                        Fax (852) 2311 7400                          Fax (852) 2308 1353
     Vaston Shipping Agency Limited             Winfire International Limited                Zhejiang Fuchuen Shipping &
     Rm 803 8/F Wah Ying Cheong Central         26/F Yardley Comm Bldg                       Enterprises Co Ltd
     Building                                   1-6 Connaught Rd West                        19/F The Centre Mark Ii
     158-164 Queen’s Road Central               Hong Kong                                    305 Queen’s Road Central Sheung Wan
     Hong Kong                                  Tel (852) 2545 0951                          Hong Kong
     Tel (852) 2975 9083                        Fax (852) 2851 7272                          Tel (852) 2544 8890
     Fax (852) 2851 6248                                                                     Fax (852) 2542 3340
                                                Wing Hing Maritime Ltd
     Vista Shipping Agency Co Ltd               10/F Hua Hsia Building                       Zim Integrated Shipping Agencies (HK)
     Rm 1402 14/F Hang Bong Commercial Centre   64-66 Gloucester Road Wanchai                Limited
     28 Shanghai Street Jordan                  Hong Kong                                    Room 2201 22/F One Island East
     Kowloon                                    Tel (852) 2865 5800-7                        18 Westlands Road Island East
     Tel (852) 2317 0310                        Fax (852) 2865 4730                          Hong Kong
     Fax (852) 2314 7248; 23774056                                                           Tel (852) 3652 8394
                                                Wing Sang Fisheries Co Ltd                   Fax (852) 3652 8370
     Wagon Shipping (H.K.) Limited              Room 1102-03 11/F Regent Centre
     27/F Island Centre                         88 Queen’s Road Central
     470 Reclamation Street                     Hong Kong
     Kowloon                                    Tel (852) 2521 3634-5
     Tel (852) 2735 2020                        Fax (852) 2868 4030
     Fax (852) 2314 1723
                                                Wing Sang Trading Co.
     Wah Kwong Shipping Agency Co Ltd           Room M10d 1/F Cheung Sha Wan Wholesale
     26/F Shanghai Industrial Investment Bldg   Fish
     48-62 Hennessy Road                        Market Phase 1 West Kowloon Reclamation
     Hong Kong                                  Shamshuipo Kowloon
     Tel (852) 2527 9227                        Tel (852) 2806 2816
     Fax (852) 2865 6544                        Fax (852) 2566 5966