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4.
SHIP PURCHASES
A.
World-Wide Shipping Group
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The World-Wide Shipping Group() of Hong Kong
has ordered from the China Corporation of Shipbuilding Industries (IAD) eight bulk carriers ranging from 27 000 to 62 700 deadweight tons.
The first order was placed in August last year by Regent Shipping Limited ( 聯成船務有限公司 ) a member of the World-Wide Shipping Group, for the construction of two 27 000-ton lake-fitted bulk carriers worth $130 million.
The second order, at $500 million, was placed in September, 1980.
It consisted of four bulk carriers, two of which are 36 000 deadweight tons and the other two, 27 000 deadweight tons.
Delivery of the vessels will be spread out from 1982 to 1983.
The third order, at $152 million, was placed by Wheelock Maritime International (EEA) in December, 1980. Two 27 000 tons lake-fitted bulk carriers will be built and are scheduled for completion and delivery in 1983.
In addition to the above, the World-Wide Shipping Group also ordered
two 36 000-ton class bulk carriers in January, 1981.
B.
Green Island Cement Company
Four subsidiaries of Green Island Cement Company of Hong Kong, namely Canfield Company, Esmond Company, Swainsboro Trading Company and Vastone Trading Corporation, have signed syndicated credits totalling $49.2 million for the purchase of four freighters from China Corporation of shipbuilding Industries. (中國船舶工業公司 ).
The chairman of Green Island, Mr. Li Ka-shing, signed a contract with the Chinese company in November, 1980.
The first of the four 27 000 deadweight-ton bulk carriers was to be delivered in 18 months, with the rest following at three-month intervals. Two of the four credits were repayable in eight years, while the last two were repayable in eight and
half years.
For Green Island, the purchase meant an excellent investment and represents a diversification of interests which will permit flexibility of action in hedging against future freight rates.
The company said their current intention was to charter out the vessels rather than to use them to transport cement clinker to Hong Kong.
5.
PASSENGER PIERS
A spokesman for the Government Secretariat said the Government was drawing up a long-term programme for the construction of a pier for ferries from Chinese ports, it was reported on August 26, 1980.
However, no decision had yet been made on the location of the pier. Passenger ferry services from Hong Kong to Guangzhou, Xiamen and Shanghai have been running since the latter half of 1979 and the number of passengers has been found to be satisfactory. According to reliable sources, the introduction of another passenger ferry service between Hong Kong and Qiangtao () was being considered.
However, there was not a berth for these ferries in Hong Kong and they had to be anchored in the harbour and then served by small boats, causing much inconvenience.
The outgoing Director of Marine, Mr. Malcolm Alexander, said that the possible location of the new pier would be in Tai Kok Tsui.
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