‘Favoured’ Status For Vessels In Chinese Ports

January 16, 2017

China confirmed that Bermuda can benefit from a UK/China agreement which bestows ‘Most Favoured Nation’ status to Bermuda-registered vessels trading into Chinese ports, with the advantages including reduced port dues paid by Bermuda-flagged ships visiting Chinese ports.

A Government spokesperson said, “The People’s Republic of China have confirmed that Bermuda can benefit from a UK/China agreement which could float the fortunes of Bermuda’s shipping registry.

“This was welcome news brought by the Chinese Ambassador to the UK, Liu Xiaoming, who is visiting Bermuda this week.

“This matter has been coordinated on behalf of Bermuda by Government House over the last several months.

“The agreement bestows ‘Most Favoured Nation’ status to Bermuda-registered vessels trading into Chinese ports, and could go a long way toward making Bermuda even more attractive as a reputable flag State.

“The 1996 Maritime Transport agreement between the Government of the People’s Republic of China and the Government of the United Kingdom of Great Britain and Northern Ireland has been extended to Bermuda and five other Overseas Territories.”

Tourism, Transport and Municipalities Minister Michael Fahy said, “This is of tremendous benefit.

“The advantages include reduced port dues paid by Bermuda-flagged ships visiting Chinese ports, which will give those ships a competitive edge.

“This will help us retain business which may otherwise have moved elsewhere, and help us attract new business. We are grateful for confirmation that Bermuda can benefit from this agreement under the UK umbrella.“

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Comments (6)

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  1. wondering says:

    ….let the record show that the Chinese do NOTHING without benefiting themselves greater than the “recipient” of their goodwill.

    be wary of the man with the gold coins…………..

    • mixitup says:

      ^^^I was thinking the same thing^^^

      • Black Soil says:

        @wondering and mixitup = you fellow have very small minds. EVERY country out there is trying to further their economic interests. Further to that, if I understand your logic, Bda should not bother trying to make a buck if we think China might make a buck too? Haven’t you two block heads heard of people doing business to benefit everyone? Let me see…if Bermuda makes a buck, but China makes two bucks you will forego the buck because China is making two. Clearly neither of you have brains. I also ask…how the hell can China make money by making it easier for their citizens to visit our shores as tourists?

      • Black Soil says:

        @wondering and mixitup: If I get $1,000 for renting out my fishing boat, should I feel put out because those who rented out the boat caught $2,000 worth of fish? You two chaps have swiss cheese for brains.

    • Wauum says:

      Surely every deal that is made with everyone tries to benefit both sides as much as possible? You can’t really blame people for wanting to benefit themselves.

    • rich says:

      China clearly benefits from this deal – otherwise, they wouldn’t do it. But let there be no mistake – this makes Bermuda’s shipping registry much more valuable vs many others that don’t benefit from the UK connection given the level of commerce that’s now being down between the West and China.