Now the fledgling company boasts a fleet of luxuriously fitted-out junks for the enjoyment of locals and visitors alike.

"I felt that there was a real gap in the market for a professionally organised charter company here in Hong Kong," said Mr Smith.

"Most Hong Kong companies have sold their boats due to high operating costs.

"It now makes more sense for them to use a charter company than to worry about choosing a suitable vessel and staffing and maintaining a corporate junk," Mr Smith says.

"The primary reason for launching Saffron Cruises was our own love of boats and the ocean. Some of the best days I have ever had in Hong Kong have been with friends out on junk-boat adventures.

"Our initial purchase was a luxury 18-metre teak Chinese junk, restored to her original condition as based upon her maiden voyage in 1990," says Mr Smith.

"This boat is one of the largest in Hong Kong, with twin 350-horsepower engines, a cruising speed of over 14 knots and ample space to cater for up to 33 passengers".

Since that maiden voyage, Saffron Cruises has acquired another three boats - a 13-metre junk, ideal for small private parties and even overnight stays in a secluded bay, a 11.5-metre cruiser, and the Wing Sing, one of the last three-mast sailing junks in Hong Kong.

"Assuming management of a unique vessel like the Wing Sing has completed Saffron Cruises' fleet and enables us to cater for almost any type of event and any budget, as well as being able to provide clients with a range of adventures at sea and also be able to visit most of Hong Kong's 300-plus islands," says Mr Smith.

The Saffron Cruises fleet is staffed by Mr Smith and Mr Doeringer, a manager, a fulltime skipper and part-time employees including deckhands, waiters and mechanics.

"The initial start-up costs primarily related to our purchase of the first boat, which was around $5 million," says Mr Smith.

"Other costs were minimised due to the fact that I already operated a number of other businesses here in Hong Kong, so office premises are shared, negating a hefty outlay on separate office premises.

"A very sophisticated IT system, creation and launching of our corporate identity, website design and launch, and e-marketing were the next big expenses totalling around $120,000, but these have also contributed greatly to the success and very positive growth of the company."

Mr Smith says the response to Saffron Cruises had so far been extremely positive, especially the events the company hosts on a regular basis.

"I believe we are the only Hong Kong charter company to host events such as jazz evenings, wine tastings, fireworks nights and even our recent single Valentine's night," he said.

"This has also means that singles, couples or small groups can now avail themselves of a junk trip without the worry of hiring and filling a whole boat with friends or colleagues and at their own personal expense."

Mr Smith says that Saffron Cruises correctly identified and now caters to a previously neglected niche, demanding something more upmarket, with gourmet catering and other catered-for elements.

"Within less that seven months from initial establishment, Saffron Cruises now manages six different vessels that cater to a wide range of needs or requests," says Mr Smith.

"From the traditional party junk, to the romantic sailing junk, to a cruiser that can get you to the Hong Kong's remote island beaches, we have them all.

"With the new relaxed Hong Kong marriage laws, we are also anticipating growing demand for weddings, especially onboard our sailing junk," says Mr Smith.

"Picture it - a ceremony conducted with friends onboard the old teak boat with the famous red sails - and Hong Kong, or one of its many wonderful islands at sunset in the background - could anything be more romantic?"