80% of Hong Kong fishing vessels grounded before moratorium due to high fuel prices

Up to 80 per cent of Hong Kong’s fishing vessels have suspended operations nearly a month ahead of a planned moratorium, according to a sector representative, as the doubling of “red oil” prices caused by the war in the Middle East has made going out to sea untenable for operators. Representatives for local transport and maritime sectors welcomed the two-week ceasefire announced by the US and Iran and the subsequent reopening of the Strait of Hormuz, but called for targeted, temporary governm...

By Oscar Liu