Hong Kong: Danish shipping giant AP Moller-Maersk is strengthening its presence in the city by more than doubling its Hong Kong-registered fleet from 17 to 39 ships.
Maersk Shipping Hong Kong managing director Dipak Dash told local media one of the reasons for choosing Hong Kong was that ships flying the Bauhinia flag paid preferential dues at mainland ports.?Flagging the ships in Hong Kong will also give the company other financial and economic benefits, including the ability to take advantage of the city's low tax base and tax not being withheld on interest payments. [28/07/10]
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