Carriers anxiously await new competition law in Hong Kong

"If we continue to run business they way we are doing now, then we will be operating in defiance of the legislation from January 1," says Tim Smith, Maersk Line's CEO of North Asia.

BY RITZAU FINANS

Container carriers in Hong Kong are holding their breath in suspense. They are waiting to see what will happen with the new competition law, which could entail liability claims of 10 percent of the companies' annual revenue. The shipowners are demanding that an exception be made for container ship companies, according to Bloomberg News.

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Carriers anxiously await new competition law in Hong Kong

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Competition law in Hong Kong could displace Maersk

Shippers want systematic monitoring of container carriers

Singapore's shippers worried about container alliances

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Front page now

Wärtsilä to introduce ammonia engine: "We are definitely not a bottleneck"

Will the world come to need 12 million barrels of oil a day?

Poseidon Principles align with IMO climate targets

Royal Arctic Line's chief executive steps down

Broker sees benefits in Fredriksen's possible purchase of rival's tankers

Carriers go their separate ways on climate quotas

Russia takes more risks by increasing shipping on Arctic route

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Gram Car Carriers lands multi-year contract worth USD 114m

Mississippi River waters dip toward record low in threat to US crop exports

Seven Seas: Customers' green ambitions and actions don't align

Venture fund in Singapore wants increased business focus from start-ups

Further reading

Carriers go their separate ways on climate quotas

Wärtsilä to introduce ammonia engine: "We are definitely not a bottleneck"

Media: Sale of DB Schenker enters next phase

It's time for DHL's new global head of ocean freight to prove he can be number one

Will the world come to need 12 million barrels of oil a day?

Russia takes more risks by increasing shipping on Arctic route

Jobs