Hong Kong Shipowners will support a number of measures in the new financial year budget.

　　On February 25, the Hong Kong Special Administrative Region Government released the fiscal budget for the 2026 to 2027 period. The Hong Kong Shipowners Association welcomes and supports the new measures in the budget.

　　It is reported that many of the suggestions proposed by the Hong Kong Shipowners Association have been accepted by the Special Administrative Region Government, including: providing tax incentives for eligible commodity traders; introducing incentive programs for Hong Kong-registered green fuel-powered vessels; optimizing the ship registration system through a dual registration system; collaborating with global maritime organizations to host more large-scale events in Hong Kong; promoting green shipping investment, smart logistics, and digital transformation to consolidate Hong Kong's position as an international financial, shipping, and trade center established in the country's "Fifteenth Five-Year Plan."

　　Mr. Richard Hext, Chairman of the Hong Kong Shipowners Association, stated: "We welcome the new initiatives and fiscal incentives proposed by the Special Administrative Region Government. Over the years, due to geopolitical developments and the global decarbonization trend, Hong Kong's shipping industry has faced more challenges. We are pleased to see the government addressing these urgent issues to promote the long-term development of Hong Kong and the industry."

　　Mr. Richard Hext said: "Since talent development is also a key issue for the industry, we urge the government to simultaneously study and expand the scope of funding for maritime and aviation talent training funds, allowing more young students to benefit and attracting more young people to join the industry."

　　In November last year, the Hong Kong Shipowners Association initiated the establishment of the "Maritime Talent Development Alliance," aiming to strengthen the integration of industry and education. The alliance brings together 16 founding member institutions, including highly reputable organizations.

　　Introduction to the Hong Kong Shipowners Association:

　　Established in 1957, the Hong Kong Shipowners Association is a major chamber of commerce in Hong Kong, with over 200 member companies, including shipowners, ship management companies, and service providers in ship financing, maritime insurance, agency and brokerage, equipment and energy supply, maritime arbitration, ship inspection, and other fields. Over the years, the Hong Kong Shipowners Association has been committed to promoting industry development and is highly respected and trusted in the local, national, and global shipping community.