Yes, your need to purchase insurance for your ship from a third-party insurance agent. The amount is no less than HKD 5,000,000. For the ships carrying more than 12 passengers, your insurance will cost you approximately HK$ 10,000,000.
The annual tonnage charge for a ship in Hong Kong is dependent on the net tonnage, and the charges are broken down as follows; The net tonnage of ships 1,000 or below is [...]
The registration fee for a ship is determined by its Gross Tonnage (GT). The break down is as follows—500 GT and below costs HKD 3,500, and over 500 GT costs HKD 15,000.
The Hong Kong registry was set up in 1990. The merchant Shipping Ordinance is responsible for the ship registration process in Hong Kong, and the Marine Department of Hong Kong manages it.