CONFIDENTIAL
Hong Kong-owned Shipping
6.
Only
small
proportion of the 10% of
beneficially owned by Hong Kong interests
shipping
the world's
i s registered in the
Most, if not all, of the tonnage owned by Sir Y K Pao is
I t is possible
Territory.
registered in Panama
presentational reasons,
that,
for
or Liberia.
some major Hong Kong shipowners may register
s ome of their vessels on a new Hong Kong register. Sir Y K Pao's
has halved since 1981 to less than 70 vessels totalling 9m
fleet
dwt;
day-to-day running of
son-in-law, Dr Sohmen.
the
fleet
is
delegated to his
CONFIDENTIAL