TNAG-1434-FCO40-1917-Hong-Kong-leading-personality-Sir-Yue-Kong-Pao--businessman-1986 — Page 263

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