反恐措施:亚洲大多数的港口、船东准备就绪

Shipowners and port operators in Hong Kong, the Chinese mainland and Japan say they are ready for new global anti-terror regulations to be implemented today and expect no major disruptions to international trade.     

反恐措施：亚洲大多数的港口，船东准备就绪

Shipowners and port operators in Hong Kong, the Chinese mainland and Japan say they are ready for new global anti-terror regulations to be implemented today and expect no major disruptions to international trade.     

Multicommodity network flow model for Asia's container ports

This paper seeks to develop a multi-commodity network model to analyse the flow of containers within the Asia Pacific context. The model is used to evaluate the impact of container throughput in Asia's port by varying terminal handling charges and turnaround time. The three main regions analysed are north-east Asia, east Asia (Chinese port region) and south east Asia. Using the model, it could be shown that Busan port, which is an important transhipment hub in north-east Asia, could boost the container activities in the north-eastern part of China by improving its service quality. It is also found that the efficiency of the land link between Hong Kong and mainland China plays a crucial role for the future of Hong Kong port. While Singapore port maintains its position as a transhipment hub in south-east Asia, there would be expected competition from neighbouring low costs ports.     

Multicommodity network flow model for Asia's container ports

This paper seeks to develop a multi-commodity network model to analyse the flow of containers within the Asia Pacific context. The model is used to evaluate the impact of container throughput in Asia's port by varying terminal handling charges and turnaround time. The three main regions analysed are north-east Asia, east Asia (Chinese port region) and south east Asia. Using the model, it could be shown that Busan port, which is an important transhipment hub in north-east Asia, could boost the container activities in the north-eastern part of China by improving its service quality. It is also found that the efficiency of the land link between Hong Kong and mainland China plays a crucial role for the future of Hong Kong port. While Singapore port maintains its position as a transhipment hub in south-east Asia, there would be expected competition from neighbouring low costs ports.     

The implications of the re-establishment of direct links across the Taiwan Strait on the aviation industries in Greater China

This paper investigates the economic implications of the liberalization of air transportation across the Taiwan Strait to the region's aviation industries. Our analysis suggests that (1) liberalization has brought substantial benefits to airports and airlines in Mainland China and Taiwan. Negative impacts to Hong Kong are largely compensated by traffic increase in routes linking Mainland China. (2) In general, Taiwanese airports and airlines have benefited more from liberalization compared to airports and airlines on the mainland and Hong Kong. Such asymmetric effect is due to the larger size of the Mainland Chinese aviation market, which allows Taiwanese airlines to exploit network-related benefits. (3) Our investigation suggests that foreign hub carriers and medium sized Chinese airports will benefit most from China's future liberalizations.     

CEPA opportunities for logistics industry

The Chinese mainland/Hong Kong Closer Economic Partnership Arrangement(CEPA) became effective from zero hour Thursday,January 1,2004,with the support of the central government and joint efforts of the industry and commerce circles on both sides.     

CEPA:物流业的机遇

The Chinese mainland/Hong Kong Closer Economic Partnership Arrangement (CEPA) became effective from zero hour Thursday, January 1,2004, with the support of the central government and joint efforts of the industry and commerce circles on both sides.     

Global shipping IPOs performance

We analyze the short- and long-run price performance of 143 global shipping IPOs listed during the 1984–2007 period in major stock exchanges, computing Buy-and-Hold Abnormal Returns (BHARs) and Cumulative Average Returns (CARs). We find the average underpricing for shipping IPOs to be 17.69%. The light underpricing is positively related to the age of the firm, the reputation of the stock exchange the IPO is listed in and the market condition of the period in which the firm went public, and negatively related to the reputation of the underwriters. In the long run, shipping IPOs underperform after a five-month holding period. Specifically, using the BHARs as a benchmark for long-run performance, we reveal that investors who buy immediately after listing and hold shares for 3 years will make a loss of 15.72%. The conclusions suggested by this survey of the global shipping industry surprises us regarding the maturity in the behavior of its investors.     

香港地区实施ISM工作现状及思考

文中介绍了香港地区实施ISM规则(国际安全管理规则)机构、立法及实施的相关情况,着重分析了《香港商船(安全)条例》涉及ISM规则的有关规定和执行,总结了香港地区航运公司管理和实施ISM规则的特点,提出了国内ISM/NSM规则的实施及相关工作的建议。     

Initial public offerings in the port industry: exploring the determinants of underpricing

The capital-intensive nature of the port industry and the long payback period of port investments traditionally determine high financial needs for operating the business. Due to the growing financial requirements for developing greenfield mega-projects and feeding international terminal operators’ overseas expansion, equity markets are expected to extend their role in promoting the industry. In this perspective, the underpricing phenomenon, which represents a direct cost for the issuer during initial public offering (IPO) and discourages companies from going public, is neglected by port literature. The paper explores the antecedents of IPO underpricing in ports. Building upon extant finance and port literature, firm characteristics, transaction features, and country-specific variables are tested as determinants of IPOs’ initial returns. For the aim of this study, 58 port-related IPOs taking place on international stock exchanges are examined, and ordinary least squares regression analysis is performed. The study offers unprecedented understandings of the phenomenon and supports port managers in facing financial challenges. Before launching the IPO, financial executives are invited to carefully identify time-window opportunities, and to monitor underwriters’ reputation when selecting financial partners. Findings bring insights for policymakers, as the public listing of port companies emerges a viable option for implementing port reform.     

Competition between the ports of Hong Kong and Singapore: a structural vector error correction model to forecast the demand for container handling services

The objective of this paper is to provide the Hong Kong government with an alternative forecast of container throughput, by studying various interactive relationships between major ports in East and Southeast Asia. As the demand for container handling services is 'derived' from the demand for imports, the resulting market shares for the container handling services gripped by different regions inevitably become a mirror image of the relative competitiveness of their exports. When the markets of the two ports overlap, their market shares will become a function of the prices they charge and how well they meet the needs of the shippers and shipping lines. A vector error correction model (VECM) with structural identification was set up to capture this kind of trade-interdependency and oligopolistic relationship in the East and Southeast Asian market for container handling services. In the course of so-doing, the upward sloping supply curves and downward sloping demand curve for the container handling services provided by Hong Kong and Singapore are identified from the model. Interestingly, the impulse response functions display what is reminiscent of the trade-interdependency and oligopolistic relationship. The forecast of Hong Kong container throughput generated by the structural VECM is then compared with that obtained by the Hong Kong Port Development Board (PDB). The sensitivity analysis shows that, in all possible cases, the structural VECM produces higher growth paths for the Hong Kong container throughput than the PDB does and, hence, suggests an earlier construction of new terminals.     

The decline of the U.K. merchant fleet: an assessment of government policies in recent years—a rejoinder to Goss's comment

In recent years, the Hong Kong port has been challenged by the emergence of the Shenzhen port. This gives rise to a concern that the high terminal handling charges (THC) levied by the Hong Kong terminal operators are undermining the competitiveness of the Hong Kong port. As the major container terminals in both Hong Kong and Shenzhen are operated by the Hong Kong terminal operators, the monopoly power of these operators is commonly believed to be the cause of the high THC in Hong Kong. The theoretical model developed in this study shows that the trigger point mechanism (TPM) used by the Hong Kong Government to control the supply of terminal capacity may be a source of such monopoly power. Two possible scenarios are considered in the model—Scenario 1 in which expansion of capacity is unconstrained (i.e. the Shenzhen port); and Scenario 2 in which expansion of capacity is constrained by TPM (i.e. the Hong Kong port). Under TPM, the Hong Kong Government commits not to grant the right to build new container terminals unless and until the demand for container handling services exceeds the current capacity by a certain amount, which provides the incumbent operators incentives to invest preemptively in excess capacity in order to block the entry of potential entrants. This model is supported by the empirical findings from this study. The results from this study suggest an urgent need for the Hong Kong Government to overhaul the current port development policy as a part of the effort to promote economic integration between Hong Kong and the Mainland China.     

参观香港冬季国际游艇展览有感

2005年12月3日-4日香港举办了新一届冬季国际游艇展览会，这是2005年香港举办的第二个国际游艇展。香港一向实行自由贸易的市场运作机制，绝大部分的国际展览活动都交由民间的私人商业机构来举办。在游艇展览方面，香港政府引入两家私人机构同年举办国际游艇展览会，意在繁荣活跃香港的水上活动。早在2005年4月初，香港西部的黄金海岸游艇会就举办了香港第8届国际游艇展览会。才过去半年时间，12月份香港政府又在香港东部西贡的匡湖居游艇会办展，     

中韩集装箱码头泊位通过能力计算方法比较分析

首先介绍了中国大陆、中国香港和韩国三地现行的集装箱码头泊位通过能力计算公式,并从参数的选取、参数的取值和公式的结构三方面对计算公式进行了比较分析,指出了三地现行的集装箱码头泊位通过能力计算公式之间的差异,并通过实例分析指出了中国大陆目前还在采用的《海港总平面设计规范》（JTJ211-99）中的集装箱码头泊位通过能力计算公式存在的问题,揭示出集装箱码头年泊位实际吞吐能力超过设计能力的主要原因,并提出了相关建议。     

Port resources rationalization for better container barge services in Hong Kong

The manufacturing base in the Pearl River Delta of China is moving westwards, where the Pearl River system has extensive coverage. This makes container barge transport a new growth area for Hong Kong Port. Traditionally, Hong Kong Port has been the main gateway for containers transported through the Pearl River system, but this advantageous position is under challenge from the adjacent ports in South China, especially from Shenzhen Port, which is keen to take a bigger share of the new growth by improving the access of barges to its port facilities. While services at Shenzhen Port are improving, barge operators have been experiencing high congestion at Hong Kong Port. Improving the quality of barge container services becomes crucial for Hong Kong Port. In this study, we propose and investigate three improvement strategies: to enhance the consolidation of small container flows, to increase the efficiency of berth allocations for barges, and to optimize the overall utilization of port resources in Hong Kong. These strategies can be instrumental for keeping Hong Kong's status as the gateway for the Pearl River system and help maintain its competitiveness as an international shipping hub.     

港珠澳大桥施工阶段环保管理工作的提升

在港珠澳大桥施工过程中,通过观摩香港段关于施工平台污水处理、固体废弃物管理、废气管理、噪音管理、中华白海豚保护等环保工作,以及成立专门的环境管理机构,对施工海域进行生态监测,海上平台开工前设置隔泥幕,在施工环境周围进行定点定时噪音和粉尘监测等,提升工程建设的环保管理水平。     

红旗漫卷万重浪——记中国海员工会

<正>1921年4月6日,由孙中山先生亲笔题写会名的中国海员工会前身"中华海员工业联合总会",经过海员工人运动先驱苏兆征、林伟民等人的不懈努力,冲破重重阴霾,率先在英国殖民统治下的香港宣告正式成立,不仅很快就成为强烈动摇帝国主义在中国殖民统治的重     

Port competitiveness from the users' perspective: An analysis of major container ports in China and its neighboring countries

The objective of this paper is to explore the relative importance of factors that determine container port competitiveness from the users' perspective. Three groups of port users – shipping liners, forwarders and shippers – are considered in this paper. The importance of the various factors is determined on the basis of survey results from the industry experts and then obtained via the analytic hierarchy process (AHP). Furthermore, we use the results to evaluate ports in Mainland China, Hong Kong and other Asian cities. Given our results, operators of our sample ports could benchmark their performance with their competitors and identify the areas that they need to improve.     

穿越南沙群岛的航线设计

南沙群岛是我国南海诸岛中分布最广、范围最大、岛礁最多的一个岛屿,但长期以来,很少有船舶驶入。由于货物运输原因,我轮频繁来往于香港和东马,经认真研究分析资料,设计了四条可以穿越南沙群岛的航线,经过10多个航次的航行检验,该航线能够保证船舶安全。此文对此穿越航线作了介绍。     

PRC maritime and the Asian Financial Crisis

This article is concerned with an analytical summary of how the Asian Financial Crisis accelerated reforms in the Chinese maritime industry. Data was collected by the author in his position as Lloyd's List correspondent in Hong Kong covering Greater China. It touches upon very recent shipping line reforms, including COSCO's restructuring, an expansion programme of the shipbuilding industry, and liberalization of the Chinese shipping market. This information is unique, and is not easily accessible to scholars either inside or outside of China.