Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Friday, Mar 24, 2023

Star Ferry told to find other revenue streams

Star Ferry told to find other revenue streams

The operator of the Star Ferry should seek to increase the company's revenue by other means, such as advertisement services on the boats' exterior and renting the vessels for local tours, a lawmaker said.
Ben Chan Han-pan, of the Democratic Alliance for the Betterment and Progress of Hong Kong, made the suggestion a day after the operator of the Tsim Sha Tsui-Central and Tsim Sha Tsui-Wan Chai ferries applied to authorities to double the fares to HK$8.4 per journey.

Speaking on radio yesterday, Chan said fewer tourists have been visiting Hong Kong due to the Covid epidemic, and that the ferry operator has been recording losses as a result.

According to a paper by the Legislative Council's panel on transport, the Star Ferry's daily average patronage dropped to 10,700 passengers in March, from around 53,900 passengers in 2018.

Chan said the government should consider whether the fare hike could be counterproductive, adding that higher fares could deter passengers and cause a further decrease in passenger volume.

He said the government should step in to assist the ferry operator in boosting its non-farebox revenue.

"The government could consider helping the ferry operator by renovating the pier to attract merchants and by allowing advertising on the ferries and at the pier," said Chan, adding that the Tourism Board needs to establish an international brand.

He added that the ferry operator could charge tourists and locals differently.

When asked whether the government would prefer to take back operating rights, Chan said that option would have to be studied in detail, as it would involve major changes in transportation policies dictating that public transport services should be run by the private sector.

The Star Ferry is owned by property company Wharf Real Estate Investment, which operates the ferry on a 15-year franchise granted by the government, set to expire in March 2033.

Roundtable lawmaker Michael Tien Puk-sun said he supports the fare hike, as taking the ferry would still be around 40 percent cheaper than taking the MTR or a cross-harbor bus.

But while he voiced his support for fare hikes for one-way tickets, he proposed leaving the monthly ticket fare as it is, rejecting the ferry operator's proposal to double the monthly ticket fare from HK$160 to HK$320.

He said maintaining the monthly ticket fare of HK$160 would rehabilitate the operator's financial woes, while serving grassroots workers who go to work across the harbor on a daily basis, as the monthly ticket would be 30 percent cheaper than on the MTR.

"This is the best solution," he said.
Newsletter

Related Articles

Hong Kong News
Close
0:00
0:00
Donald Trump arrested – Twitter goes wild with doctored pictures
NYPD is setting up barricades outside Manhattan Criminal Court ahead of Trump arrest.
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Goldman Sachs cuts outlook for European bank debt over Credit Suisse crisis
Paris Rioting vs Macron anti democratic law
'Sexual Fantasy' Assignment At US School Outrages Parents
The US government has charged Chinese businessman Guo Wengui with leading a $1 billion fraud scheme that cheated thousands of followers out of their money.
Credit Suisse to borrow $54 billion from Swiss central bank
The BBC problem about China
Russian Hackers Preparing New Cyber Assault Against Ukraine
"Will Fly Wherever International Law Allows": US Warns Russia After Drone Incident
If this was in Tehran, Moscow or Hong Kong
Announcing GPT-4
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
China is calling out the US, UK, and Australia on their submarine pact, claiming they are going further down a dangerous road
A brief banking situation report
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
'No relation to the American SVB': India's SVC Bank acts to calm depositors amid brand name confusion.
Good news: The U.S. government is now guaranteeing all deposits, held by, Silicon Valley Bank, and the funds are available as of today
Silicon Valley Bank exec was Lehman Brothers CFO
In a potential last-ditch effort, HSBC is considering a rescue deal to save Silicon Valley Bank UK from insolvency
Saudi Arabia has announced a major breakthrough in diplomacy with Iran after two years of intense talks
Elon Musk Is Planning To Build A Town In Texas For His Employees
The Silicon Valley Bank’s collapse effect is spreading around the world, affecting startup companies across the globe
City officials in Berlin announced on Thursday that all swimmers at public pools will soon be allowed to swim topless
Fitness scam
Market Chaos as USDC Loses Peg to USD after $3.3 Billion Reserves Held by Silicon Valley Bank Closed.
A primitive judge in Australia sparked outrage when he told a breastfeeding woman to leave his courtroom for being “a distraction"
Barcelona is feeling the heat as they face corruption charges over payments to former vice-president of Spain's referees' committee, Jose Maria Enriquez Negreira
Banking regulators close SVB, the largest bank failure since the financial crisis
Silicon Valley Bank: Struggles Threaten Tech Startup Ecosystem"
The unelected UK Prime Minister Rishi Sunak, an immigrant himself, defends new controversial crackdown on illegal migration
Old clip of Bill Gates saying Ukraine is a big, fat, corrupt sinkhole is going viral
Man’s penis amputated by mistake after he’s wrongly diagnosed with a tumour
2 universities in Hong Kong embrace use of ChatGPT, other AI tools
In a major snub to Downing Street's Silicon Valley dreams, UK chip giant Arm has dealt a serious blow to the government's economic strategy by opting for a US listing
Missing Chinese banker was working to set up Singapore family office
Hong Kong ditches Covid mask mandate after 945 days
Xi Jinping and His Wife Meet with Cambodian King Norodom Sihamoni and Queen Mother Norodom Monineath Sihanouk
How do stolen goods end up on Amazon, eBay and Facebook Marketplace?
It's the question on everyone's lips: could a four-day workweek be the future of employment?
Is Gold the Ultimate Safe Haven Asset in Times of Uncertainty?
Spain officials quit over trains that were too wide for tunnels...
Hello. Here is our news digest from London.
Corruption and Influence Buying Uncovered in International Mainstream Media: Investigation Reveals Growing Disinformation Mercenaries
When it comes to Tesla vs Lamborghini, an empty vessel makes more noise
European MP Clare Daly condemns US attack on Nord Stream
Former U.S. President Carter will spend his remaining time at home and receive hospice care instead of medication
North Korea test-fires an intercontinental ballistic missile into the Sea of Japan west of Hokkaido
×