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Danish shipping giant to add more HK-flagged ships

Danish shipping giant AP Moller-Maersk is strengthening its presence in Hong Kong by more than doubling its HK-registered fleet from 17 to 39 ships.

Hong Kong managing director Dipak Dash stated that one of the major reasons for Maersk registering more Hong Kong vessels is due to the preferential dues at Chinese ports. In addition, Hong Kong-flagged ships will be able to take advantage of the low tax rates and the absence of withheld taxes on interest payments.

Dash said that Maersk will "carry out the expansion in recognition of Hong Kong’s position as a leading international maritime centre, its economic attractiveness to shipowners and its wider recognition as a quality flag-state with efficient service" and that "The decision reflects AP Moller-Maersk’s commitment to the region and the fact that we believe the advantages provided by Hong Kong enable us to better service our customers."

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(Source: scmp.com)