May 24 2013
Cheung Chau Ferry Service
In a paper dated 24th May 2013, submitted to Transport Panel of Legislative Council by Transports and Housing Bureau, it is stated the current ferry operator for the route between Cheung Chau and Central – New World Ferry, can barely make 5% profit in the 3 year license period with Hong Kong Government subsidy.
Without it, ferry operator will surely lose 10% on their investment.
Current 3-year license will expire in mid 2014, it is expected HK$115m subsidy in total will be used by next year.
New Ferry and other operator of the other outlying island routes, Hong Kong Kowloon Ferry, have said up coming subsidy for next 3-year license will reach HK$191m. if no fare increase is allowed.
Cheung Chau Ferry