The year 1997 contained two milestones in the Association's history. On 1st July the historic event of Hong Kong's sovereignty being returned to China, and on 29th November the Association's 40th Anniversary.

It is unlikely that the 11 local shipowners who founded the Association could have imagined that the result of their getting together would lead to a membership as at the end of 2004 comprising 48 shipowning and shipmanaging companies and 109 Associate member companies. It is probably even more unlikely that those founding members would have thought of the possibility of having Associate members which include all the major local shipping financiers, classification societies, maritime lawyers, average adjusters, ship agencies, shipbrokers, shipbuilders, surveyors, insurers, suppliers and other shipping related services.

Yet it is this unique composition of our membership which has so greatly enhanced our credibility within our local community and given breadth and experience to our international relationships and status.

Despite the inevitable uncertainties which accompany the political changes we will experience in Hong Kong after 1997, the strength of our membership is holding up very well and likewise the size of our members' collective fleet. At the end of 2004 our combined fleet figures stood at 1,111 ocean going vessels of 63.9 million deadweight tons or 39.1 million gross registered tons.

The fleet is registered in 29 countries, chiefly Hong Kong, Panama and Liberia , followed closely by Hong Kong. Our members' total tonnages on those three registers are 28.2 million, 15.1 million and 5.7 million deadweight tons respectively.

Our Association is either a member of or collaborates closely with the Asian Shipowners Forum, the Baltic and International Maritime Council, the International Maritime Organisation (through the Hong Kong Government) the International Labour Organisation , the International Chamber of Shipping, the International Shipping Federation,. INTERTANKO, INTERCARGO, the International Maritime Industries Forum and the International Chamber of Commerce through the International Maritime Bureau.

Our Association's chief purpose will continue to be to promote and to protect the interests of the Hong Kong shipowners and shipmanagers as well as the increasing number of local professions and services upon whom they rely in the performance of their business.