UPS announced on 30t Oct. that a new daily flight between Zhengzhou, the capital city in China's Henan Province, and Inchon in South Korea has been launched. The opening of the new UPS flight was supported by Chinese government. "Direct flights from Inchon to UPS's intra-Asia hub in Shenzhen will open new opportunities for the companies in Zhengzhou a rea that want to expand export with in Asia. Further, they will benefit from Inchon's cor responding fl ight connections to thei r key export markets in the U.S. and Europe." commented a staff of UPS."As a lot of manufacturers move their faciliti
STX Offshore Shipbuilding is highly expected to obtain the order for LNG-RV(Regasification Vessel), which is a specialized LNG vessel equipped with regasification facilities, for the first time in the company's history. According to the foreign press, STX is currently negotiating with Greek DynaGas to win a contract for one 170,000-CBM class LNG-RV.It has been reported that the new vessel at the sailing speed of 19.5 knots is projected to be delivered during the first half of 2015 and the price is to be around 300 million dollars."The newly ordered one will be the unique ship composed of 4 sk
Germany’s TUI Cruises confirmed early November that the company has ordered a second 2,500 passenger cruise ship from STX Finland.The 99,300 GRT cruise ship will measure approximately 294 meters long by 36 meters wide. The ship will have 1,250 staterooms, serve 2,500 passengers and have a crew of 1,000 persons. As with the first vessel, TUI says the newbuild will come equipped with a number of environmentally friendly features, with a particular emphasis on energy efficiency.“We are extremely pleased that TUI Cruises confirmed the order of the sister ship for the magnificent Mein Schiff 3 crui
The Ministry of Land, Transport and Maritime Affairs(MLTM) has announced that the container throughput over the whole domestic ports in September is expected to record 1.868 million TEUs, up 6.2% from the same month of previous year's 1.759 million TEUs. It is a rally after August's traffic switched to a decline for the first time in 34 months, however, global economic recession still makes it hard to feel optimistic about further progress. Actually such an increasing trend is estimated to have been reflected by early shipment of China-bound cargoes due to 8 days' long weekend in China. Export
There is a growing voice about reestablishment of the Ministry of Maritime Affairs and Fisheries(MOMAF), which was abolished with launch of the new government in 2008. Shippers' Journal recently had an interview with the legislator Lee Jae Gyoon to ask about his opinions with regard to this issue. △ The presidential candidates are bringing up reestablishment of MOMAF as one of their pledges. What do you have in mind on this subject? It's really inspiring that all the presidential candidates are promising to reestablish MOMAF. There are two important points to be mentioned on this. The first is
It is predicted that Hyundai Heavy Industries Co. has bigger synergy effect in acquisition than Korean Air Lines Co. while two companies are competing to take over Korea Aerospace Industries Ltd. According to Korea Exchange early this month, Korean Air went through drop in stock prices more than 3%(Hyundai Heavy was around 1%) as of 28 September, when their preliminary bid was submitted. The market expects the sale price to reach maximum 1,500 billion-won. The higher the selling price, the more Korean Air is likely to give up considering the company's comparatively weaker financial position. "
STX Offshore Shipbuilding Co. announced that the company has recently entered into a contract for 480 billion-won 1 FSO(Floating Storage Offloading) unit with a North African shipowner. Being 3 times as big as football ground with 324m length and 51m width, the vessel is able to hold 1.5 million crude oil. This accounts for about 70% of the amount of crude oil used a day in Korea. The ship is scheduled to be delivered by the first half of 2015 after being constructed at STX's Dalian shipbuilding complex in China, where the company has the world's largest marine plant construction platform. S
△ What do you think about Korea's aviation industry? Korea has an excellent Incheon Int'l Airport. Apart from magnificent facilities, the airport provides high quality services enabling them to keep profitability and eminence. Incheon airport accepted price cut of landing charges by 10% from 2008 until 2010 and if followed by further similar actions, Incheon Int'l Airport will be able to get remarkable competitiveness. Whatever decision making is on including markdown of charges, construction and privatization of the airport, competitiveness of the nation should be primarily considered. △ What
The International Air Transport Association(IATA) Seoul urged at the press conference held in the Westin Chosun on 24 Sep. that the competitiveness of Korea's aviation industry and the successful development should be sustained to share the role and vision with the world's aviation industry and to boost nation's competitiveness. Tony Tyler, a director general and CEO of IATA, said "Korea has built a solid foundation for the successful development of air transport industry, which provides 140,000 related jobs and creates economic effect worth 8 trillion 300 billion won accounting for roughly 0.
△ Please advise us what your project is about. That is to build international passenger pier and terminal enabling 8 passenger ships including 150,000 ton class cruise vessel to berth simultaneously. Considering 2014 Asian Game in Inchon, we plan to partially open the ultra large cruise ship's terminal by the time Asian Game starts. Then overall pier and terminal will be completed by 2016. New construction is expected to solve some operation problems, especially customers' chaos and inconvenience derived from the fact that pier and terminal have been dually operated. △ It seems that full gover
A new international passenger terminal is being built in the port of Inchon. Inchon Port Authority(IPA) held a groundbreaking ceremony at A-am logistics complex(No.2) on 19th Sep. and began the construction. The project is on target to develop facilities which include 1 berth for the 150,000 ton class cruise vessel to come alongside, 7 berths for 30,000 ton class car-ferry boats and 1 passenger terminal building. There will be an investment of 560 billion Won until 2016. The construction will be progressed through 3 stages ; 2 berths enabling 80.000 ton class cruise vessel to enter bearing 201
The pier with the depth of 20m is going to be built in Busan New Port for the first time in the nation. Busan Port Authority(BPA) announced that they would start substructure work for the 2-5 phase of new port's west container terminal within this month. The new pier will be designed for next generation's 20,000 TEU class container vessel to be able to berth. The 700m key wall will let the two vessels berth at once and handle 800,000 TEUs a year, which expects to contribute a lot to productivity improvement and strengthening competitiveness for the port of Busan. The construction order, which
It is reported that 56% of domestic exporters have gone through increase in logistics cost in the first half of this year. According to KORCHAM(Korea Chamber of Commerce)'s recent survey of the current status of traders' logistics, 55.7% of exporters answered 'Increased' to the question asking the change of outbound logistics cost during the first half this year compared with last year. The increase percent has turned out to be 16.3% on average. The leading cause was 'rising oil price'(71.4%). Then it was followed by 'rise in incidental expenses such as transportation and forwarding charge'(12
City Airport, Logis Travel Korea(CALT) held a signing ceremony of establishing a foreign investment joint company to operate Ung-dong logistics center in Busan(CALT Logis BUD). There were more than 40 attendees at the ceremony particularly CEOs of CALT, NRS Corporation(Japan), Orient Shipping and Sinokor, all of which participated into the joint company. These companies are planning to construct logistics center of total 13,000㎡ in the hinterland area located on the west of Busan New Port. The center is supposed to start construction in May next year and launch its operation in Jan. 2014. CA
Hyundai Merchant Marine (HMM)'s 60,000 ton class bulk ship 'Pacific Pride' achieved a certificate for environment friendly vessel from Korean Register(KR) on 31 August. KR started to issue a certificate as of 1st July to assess the vessel's environment friendly aspect and management competency of the shipping company after reviewing vessel operation, management and the level of implementation of IMO's environment related agreements. 'Pacific Pride' is the first case in the nation to receive the certificate. The ship is equipped with PBCF(Propeller Boss Cap With Fin), which is a device to elev
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