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Executive Council Approves Star Ferry's Application for Fare Increases

HK

Executive Council Approves Star Ferry's Application for Fare Increases
HK

HK

Executive Council Approves Star Ferry's Application for Fare Increases

2026-10-21 17:00 Last Updated At:17:28

Executive Council approves Star Ferry's application for fare increases

The Chief Executive in Council approved on October 13 the application by the "Star" Ferry Company, Limited (Star Ferry) for raising the fares of its two franchised ferry routes, namely "Central - Tsim Sha Tsui" and "Wan Chai - Tsim Sha Tsui". The new fares will be implemented on January 25, 2027.

The Star Ferry. Photo source: reference image

The Star Ferry. Photo source: reference image

After the fare adjustments, the fare increases for the two ferry routes will range from $0.6 to $1.0 per trip on weekdays and from $1.0 to $1.8 per trip on weekends (i.e. capping the adult ticket fares at $6.0 for weekdays and $8.3 for weekends), while the monthly ticket price will be maintained at $190. Weekday increases are kept slightly lower than weekend increases and the monthly ticket price will remain unchanged to mitigate the impact of a fare burden on regular commuters. 

Star Ferry earlier submitted an application for fare increases, seeking to increase fares by $0.8 to $2.0 per trip for the two franchised ferry routes. Having comprehensively reviewed all relevant factors, including the financial position of Star Ferry; forecasts of changes in operating costs, revenue and return; past performance in provision of ferry services; public acceptability of the proposed fares; and measures implemented by Star Ferry to save costs and generate additional revenue, the Government considered that there is a case to support fare adjustments, but the rate of increase should be moderated to cater for the need of passengers. After the fare increase, Star Ferry is still the most affordable means of cross-harbour public transport, with fares about 30 per cent to 50 per cent lower than MTR or franchised bus fares.

The Star Ferry. Photo source: reference image

The Star Ferry. Photo source: reference image

A Government spokesperson said, "Running cross-harbour ferry services since 1898, Star Ferry is a key icon of Hong Kong. Owing to factors including the COVID-19 pandemic, Star Ferry recorded heavy accumulated losses of over $100 million during the six-year period between 2018 and 2023, and had to rely on debt financing to run its franchised services. While Star Ferry recorded marginal profits in 2024 and 2025, it will continue to face severe financial pressure in the coming years and is expected to record losses again starting from 2026 due to slow patronage growth, limited room for cost-compression, and continuous increases in operating costs and debt-related interest expenses. Therefore, there is a need for Star Ferry to adjust its fares."

The spokesperson continued, "Star Ferry's service performance has generally been satisfactory, and it has actively enhanced the overall passenger experience by, among others, introducing electronic payment options. The Government will continue to encourage Star Ferry to improve its long-term financial viability through a multipronged approach covering fare levels, non-farebox revenue and Government support etc to continue providing quality services to citizens and visitors, and to preserve this historical landmark filled with memories for Hong Kong."

The maximum fares that could be charged by Star Ferry are set out in the Ferry Services (The "Star" Ferry Company, Limited) (Determination of Fares) Order (Cap. 104C). The amendment will be tabled at the Legislative Council on October 28, 2026, for negative vetting.

The Government consulted the Legislative Council Panel on Transport on July 17, 2026, and the Transport Advisory Committee on August 27, 2026, on Star Ferry's application for fare increases.

The Star Ferry. Photo source: reference image

The Star Ferry. Photo source: reference image

Results of 3-year HKD HKSAR Institutional Government Bonds tender through re-opening

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender of 3-year HKD institutional Government Bonds through the re-opening of existing Government Bond (issue number 05GB2912001) under the Infrastructure Bond Programme was held today (October 21).

A total of HK$0.75 billion 3-year Government Bonds were offered today. A total of HK$3.537 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 4.72. The average price accepted is 98.38, implying an annualised yield of 3.821per cent.

HKSARInstitutional Government Bonds Tender Results

Tender results of 3-year HKD HKSAR Institutional Government Bonds:

Tender Date : October 21, 2026
Issue Number : 05GB2912001 (Re-open)
Stock Code : 4284 (HKGB 3.23 2912)
Issue and Settlement Date : October 22, 2026
Tenor : 3 years
Maturity Date : December 5, 2029
Coupon Rate : 3.23per cent
Amount Applied : HK$3.537 billion
Amount Allotted : HK$0.75 billion
Bid-to-Cover Ratio* : 4.72
Average Price Accepted (Yield) : 98.38 (3.821per cent)
Lowest Price Accepted (Yield) : 98.24 (3.870per cent)
Pro-rata Ratio : About 23per cent
Average Tender Price (Yield) : 98.08 (3.928per cent)

* Calculated as the amount of bonds applied for over the amount of bonds issued.

Source: AI-found images

Source: AI-found images

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