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Manpower Dynamics. Data Intelligence

Maritime Services

Ocean Going; River Trade; Local Vessel; Shore Based; ...

Covers :
1. Ocean Going
   - Ship agents and managers; overseas shipping companies
   - Ship owners of sea-going vessels
   - Operators of sea-going vessels
   - Ship owners and managers of ocean going vessels
2. River Trade
   - Ship owners and operators of vessels moving between Hong Kong and the ports in Pearl River Delta
3. Local Vessel
   - Inland water transport
   - Mid-stream operation
   - Yacht club
4. Shore Based
   - Container terminal and marine cargo terminal operators; port facilities operators
   - Shipbrokers
   - Classification societies; consultants and surveyors
   - Marine equipment; shipbuilders and repairers
   - Marine insurance
   - Maritime law
   - Ship finance
   - Ship registration and port authorities
   - Other maritime services

Maritime Services Inner Banner

Business Outlook

The global shipping industry was hit hard by the Covid-19 in the first half of 2020 but it eventually turned out to be one of the best performing industries in 2020.  Major reasons contributing to the outstanding performance of the industry include disciplined capacity management by carriers that supported freight rates, low fuel price and a quick rebound in demand in the second half of 2020.  It was believed that the global shipping industry would maintain its strong performance throughout 2021.

River trade ferry companies have been facing a number of challenges in recent years, including the loss of passengers to road transport since the opening of the Hong Kong-Zhuhai-Macau Bridge in late 2018, decline of Hong Kong visitor arrivals owing to the unprecedented social incidents in 2019, and the recent suspension of services due to the Covid-19 pandemic.  It is anticipated that this sector would not recover to its original scale of businesses even the pandemic subsides.  Apart from replacing the wastage due to normal retirement, it seems the River Trade sector would not have additional manpower requirement in the near future.

Over the past few years, owing to the decline in mid-stream operations, a number of local vessel companies have turned to support marine construction works.  As the manpower demand of local ferry companies is relatively stable, whether the manpower requirement of the whole Local Vessel sector will have noticeable changes largely depends on the scale of future marine construction projects.  If mega projects like the Lautau Tomorrow Vision are materialised, the sector will need more manpower supply in the next few years. 

 

 

The Government launched a subsidy scheme to assist local ferry companies to purchase new high-speed vessels, including the hybrid ones, which would require the operators to master new navigation skills and maintenance knowledge.  To ease the ageing problem and facilitate the application of new technology, new blood is particularly required for the Local Vessel sector.

The Government has put in a lot of efforts in promoting maritime services, which include tax concessions for ship leasing and marine insurance business, funding injection for maritime manpower development, and setting up regional maritime desks worldwide.  With enhanced integration between Hong Kong and other cities under the Guangdong‑Hong Kong‑Macao Greater Bay Area (GBA) development, Hong Kong port is likely to gain a new lease of life as being part of the major Southern China port cluster.  These factors should have a positive impact on the development of shore-based businesses including ship leasing and management, maritime law and insurance, ship finance and cargo terminal in the long run.