On January 15, 2025, the Merchant Shipping (Fees) (Amendment) (No. 2) Regulation 2024 (the ‘Regulation’) passed in the Legislative Council (LegCo), establishing the Block Registration Incentive Scheme and modernizing fee structures within the Hong Kong Shipping Registry.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On January 15, 2025, the Merchant Shipping (Fees) (Amendment) (No. 2) Regulation 2024 (the ‘Regulation’) passed in the Legislative Council (LegCo), facilitating the implementation of the Block Registration Incentive Scheme (the ‘Scheme’) within the Hong Kong Shipping Registry and modernizing fee structures to align with current government operations.
The Regulation introduces the Scheme, designed to incentivize the simultaneous registration of multiple vessels and thereby enhance the competitiveness of the Hong Kong Shipping Registry. This is achieved through a refund mechanism for registration fees and annual tonnage charges paid during the initial year of ship registration, subject to the fulfillment of specific eligibility criteria.
To qualify for the refund, applicants must demonstrate concurrent registration of several ships within a prescribed timeframe, maintain a minimum continuous registration period of twelve months for all registered vessels, and achieve a combined gross tonnage of at least 50,000 tons for the fleet.
Additionally, the Regulation removes obsolete provisions concerning office hours, specifically those relating to Saturdays, and revises relevant fee schedules to reflect the government’s operational shift to a five-day workweek. The Regulation will come into operation on February 14, 2025.
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