The maritime services industry is a highly competitive global industry. Although Hong Kong has proactively promoted its high-ended maritime services in recent years to serve as an impetus to the further growth of the local shipping industry, Hong Kong has been lagging behind other leading global maritime centres including Singapore, London and Shanghai in areas like marine insurance, arbitration and ship building. Moreover, the fierce competition among leading maritime centres is not confined to business opportunities, but to talents as well. A brain drain of local maritime professionals to London and Singapore was noticed in the past few years.

The most impactful regulatory requirement in the industry is the International Maritime Organisation (IMO)’s Greenhouse Gas (GHS) Strategy. Shipowners will need to cut annual GHS emissions from international shipping by at least half by 2050, compared with their level in 2008. It is expected that the introduction of alternative fuels will play a key role in the ultimate goal of achieving emissions reduction. Apart from the ocean going sector, the local vessel sector also faces the challenge of tight regulations. After the Lamma Island Ferry Collision in 2012, the Marine Department has strengthened various measures to enhance maritime safety by phases, e.g. mandating local vessels exceeding specified carrying capacities to use an automatic identification system, a radar and a very high frequency (VHF) radiotelephone, requiring the presence of crew members qualified to use the radar and VHF radiotelephone. As the local vessel sector has been facing acute labour shortage, these additional requirements put a strain on the already stretched workforce.

Among various forms of technological innovations, the wave of ferries powered by electricity is worth particular attention. To promote the use of green transportation technologies in local ferries, the Government subsidised local ferry operators to construct electric ferries and the associated charging facilities. The new electric ferries are expected to be put into operation in a year or two. Crew members will need to get familiarised with the new control systems, charging facilities and maintenance procedures to optimise the performance and safety of these new ferries. Older employees who are less tech-savvy may find it hard to keep up with the new technology.