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30 million tons, is owned or operated by companies registered in Hong Kong.

This gives us a power and influence in the pattern of world shipping which

is out of all proportion to the modest number of vessels which appear on

the Hong Kong portion of the British Shipping Register.

Associated with our ownership or operation of this fleet is our

importance as a source of recruitment of seamen, We maintain a register

of abour 80,000 seamen, of whom at any given time more than 30,000 are to be

found serving on at least 1,500 vessels scattered throughout the world.

Our seamen are greatly in demand for the same qualities of discipline,

efficiency, hardwork and adaptability which have been so integral a part

of our success as an industrial entity.

Because of the overriding importance to us of our sea trade, we

have had to develop to the full those facilities which shippers require.

In the past few years three major container terminals, capable of receiving

ships of up to 60,000 tons, have been constructed at Kwai Chung and three

further berths are being built.

Already more than 40% of our imports and exports are handled by

these terminals. Although this percentage may well increase, we shall

continue to retain our capacity to deal by traditional methods with the

remainder of our cargoes with the skill, speed and economy which have been

an outstanding feature of the Port of Hong Kong for more than 100 years.

To service the large numbers of visiting and local ships, we have

developed extensive repair, maintenance, dry docking and slipping facilities

of a standard which brings vessels here from all parts of Asia to take

advantage of them.

At least as important to those who conduct our trade, as the

services provided by the Port and dockyards, are the banking and financial

facilities and the reliability and speed of the international communications

/which are