Early this year , physics supplier in Hong Kong should be the first among the world demanding a 4million bailout because of the heavy loss due to conv-19.
Consider a bunker trader can do the business in other ports and keep business going, a Hong Kong physical supplier can do nothing due to the 14 days quarantine requirement for all incoming ships in late July last year. As a supplier , if the ship not coming in , there is nothing they can do , there are no “take-away” or any form of online service they can provided. Also if my memory is correct, Hong Kong is the only port in the world that have a complete stop on bunker business for weeks in the pandemic.
Obviously many industry, like fitness, F&B, tourism are heavily dragged in a low point for over a year. Yet the cost involve a physical supplier like mortgage , crew salary , yearly maintainer , buoy ( yes one of the highest cost of owning a bunker barge in HK is the buoy , like the highest cost of owning a car in Singapore is the Certificate of Entitlement (COE) , which could easily much more expensive than the vehicle itself )
Hope the Hong Kong government can do something to assist the industry in this madness period.
Until next time
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