Some shipping companies are discreetly moving operations out of Hong Kong and taking vessels off its flag registry. Others are making contingency plans to do so.
Despite an influx of Chinese-operated ships onto Hong Kong's registry, the number of oceangoing vessels flagged in the city fell more than 8% to 2,366 in January from 2,580 four years earlier.
Among the ships that left Hong Kong's registry, 74 re-flagged to Singapore and Marshall Islands in 2023 and 2024, chiefly dry-bulk carriers designed to transport commodities such as coal, iron ore and grain. Some 15 tankers and seven container ships separately left the Hong Kong registry for those flags.
The outflow of ships since 2021 marks a reversal for Hong Kong's registry, which official data show grew roughly 400% in two decades following 1997.
Hong Kong's flag is now flown by many of China's state-owned international vessels.
In a conflict, these tankers, bulk carriers and large container vessels would form the backbone of a merchant fleet serving the PLA to supply China's oil, food and industrial needs.
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