Nearly 80% of Hong Kong's fishing fleet has suspended operations ahead of a planned ban. The doubling of crude oil prices, linked to the Middle East war, has made fishing economically unfeasible for local operators.

Up to 80 per cent of Hong Kong’s fishing vessels have suspended operations nearly a month ahead of a planned moratorium, according to a sector representative, as the doubling of “red oil” prices caused by the war in the Middle East has made going out to sea untenable for operators. Representatives for the local transport and maritime sectors welcomed the two-week ceasefire announced by the United States and Iran and the subsequent reopening of the Strait of Hormuz, but called for targeted,...