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Nowhere better to be than Hong Kong during the downturn: HKSOA

Nowhere better to be than Hong Kong during the downturn: HKSOA

Hong Kong: Hong Kong owners' generally 'conservative' nature should make the Special Administrative Region miss the worst ravages of the global shipping meltdown, said Peter Cremers, chairman of the Hong Kong Shipowners Association (HKSOA), speaking at the body's annual cocktail reception last night held at the Island Shangri-la. 'During this downturn I can't think of anywhere better in the world to be than Hong Kong,' he said. Cremers asked for the government to help out the former British colony's shipping industry 'in order to spread the risk' for the 'long term benefit of Hong Kong'. Hong Kong's traditional laissez faire attitude towards business has often been at odds with the proactive HKSOA. Cremers, ceo of shipmanager Anglo-Eastern, is half way through his two-year tenure as chair of the HKSOA. [28/11/08]

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