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Some shipping companies are discreetly moving operations out of Hong Kong and taking vessels off its flag registry. Others are making contingency plans to do so. As six shipping executives said, behind these moves lie concerns that their ships could be commandeered by Chinese authorities or hit with U.S. sanctions in a conflict between Beijing and Washington.
The U.S. Trade Representative's office last month proposed levying steep U.S. port fees on Chinese shipping companies and other companies that operate Chinese-built vessels, to counter China's "targeted dominance" of shipbuilding and maritime logistics.
Reuters interviews with two dozen people, including shipping executives, insurers and lawyers familiar with Hong Kong, revealed growing concern about China's intensified focus on national security objectives and risks of China seizing control of shipping in case of emergency.
"We don't want to be in a position where China comes knocking, wanting our ships, and the U.S. is targeting us on the other side," said one executive, who like others was granted anonymity to discuss a sensitive issue.
Source: reuters.com