Yeosu Gwangyang Port Authority(YGPA) is holding their 7th international forum under the name of 'The inauguration of YGPA and a strategy for the value added port'. The forum will be held from 15th until 17th Aug. at the Renaissance Hotel, Seoul marking the 1st anniversary of YGPA. While 1,200 port and logistics industry people are supposed to attend, this forum is focused on actual investment promotion targeting shipowners, shippers and other logistics firms breaking from the existing conference-oriented event. There will be a variety of programs at the forum including a presentation meeting
Marking the 5th year anniversary of the inauguration, Ulsan Port Authority(UPA) is currently accelerating their plans named 'Oil Hub Project in North East Asia' as well as 'New Port Development Program'. And the year 2013 would mean a lot to the port of Ulsan as a 50th anniversary. Recently we had a chance to interview Mr. Chong Rok Park, a CEO of UPA, and asked some questions about plans for the progress of the port of Ulsan. Q. It's been half year since you took office. What are the main projects you are presently laying emphasis on? We have fixed 'Oil Hub Project in North East Asia' as a ne
Hanjin Shipping seems to be showing interest in the Panama Canal expansion program. Panama Canal Authority(ACP) held 'a presentation meeting for the current status of the Panama Canal expansion program and its ripple effect in economic aspect' at Korea Chamber of Commerce Industry on 12 June. There were about 30 participants at the meeting from shipping lines and construction companies including Hanjin Shipping, STX Panocean, SK EC, LG Int'l Corp, Yeosu Gwangyang Port Corporation etc. One of the notable characters was Mr. Kim Yeong Min, a CEO of Hanjin Shipping, who listened attentively to A
Korean Register of Shipping(KR) signed a service partnership agreement with Russian Maritime Register of Shipping(RS). Dr. Oh Kong Gyun(a CEO of KR) and Mr. Mikhail Ibasov(a CEO of RS) agreed and signed to provide maritime industry with high quality service through close co-operation between two organizations, both of which are full members of International Association of Classification Societies (IACS). The main content of the agreement covers △co-operation in recruitment of inspectors and training △use of overseas network △a study on the support of shipping companies and shipowners regarding
The regulation has become mandatory from June with regards to report on use of port facilities for the cargoes on which entrance and clearance fees are levied. According to Inchon Port Authority(IPA), the revision of 'the regulations on use of IPA's port facilities and related fees' was resolved at the recent IPA's 84th port committee meeting. Before this time, it was mistaken that the cargoes, for which the fees are exempted such as empty containers, were also free from the report on use of port facilities. Such omissions caused error in traffic management and statistics. IPA predicts that th
The port of Busan exceeded 1.5 million TEUs of monthly container throughput for the first time since its opening even in European financial crisis. Busan Port Authority(BPA) announced that the container throughput in May recorded 1,552,000 TEUs, up 9.7% compared to the same period last year. Particularly transshipment containers jumped by 20% to 772,000 TEUs playing the leading role in raising container traffic. According to BPA's own analysis, rapid growth of transshipment throughput results from a sort of synergy effect interlinking their continuous marketing activities towards global carrie
Hyundai Merchant Marine(HMM) is reported to have received a award of 'Best Partner Carrier' from Sony, the world's electronic goods giant, for 9 consecutive years. Sony selects the best partner among their business related shipping companies every year after evaluating service competitiveness and co-operative relationships. HMM annually transports about 20,000 TEUs of Sony products. A staff of HMM said "It comes from the trust of our customer as we have fulfilled so-called 'super sale initiative' such as customer-oriented services. We expect this award will help reinforce business co-operation
The Ministry of Land, Transport and Maritime Affairs(MLTM) announced that the whole throughput in Korean ports in April had slightly increased totalling 111.09 million tons, which is up 0.5% compared to the same period previous year(110.54 million tons). The cumulative port traffic until April 2012 reached 442.43 tons, up 3.4% from 427.72 million tons of the same period last year. Looking over April traffic by the ports, the port of Busan rose by 9.4% thanks to increase in export/import of timber and machinery products while the port of Gwangyang showed up 7.5% due to rise in the trade of oil
It has been suggested that there is an urgent need for the expansion of international passenger terminal to promote cargo traffic in the port of Pyeongtaek. Inviting the shippers of Shandong Province, China, Gyeonggi Pyeongtaek Port Corporation(GPPC) held 'the presentation meeting to attract cargoes' in their public relation room on the 22nd of May. The purpose of this meeting was to draw interest from Shandong shippers' delegation by introducing current operation status and development plans for the port. Presently there is a container and car-ferry route linking Pyeongtaek and the ports of S
Mr. Kim Hak-so, the president of Korea Maritime Institute(KMI), held talks with Mr. Alpha Conde, the president of Guinea who recently had an official visit to Korea, and agreed that KMI would work together towards the development of Guinea's port and maritime industry. Both parties decided at the talks to establish 'Korea-Guinea Marine and Fisheries Research Center' as an affiliated organization under Guinea government so that Korea's experiences and know-how in maritime and fishing industry could be passed on to Guinea. In this connection, 'Asia Africa Marine Forum' that has been held by KMI
Inchon Port Authority(IPA) has recently opened a new regular container service route. According to IPA, so-called 'KPS' service co-operated by 3 container lines including Hueng-A Shipping, STX Panocean and CNC entered into service in line with their first vessel coming into the port on 11st March. The weekly service route turns round the ports in sequence of 'Inchon-Busan-Kwangyang-Shanghai-Manila-Hochiminh-Hong Kong-Shekou-Inchon' and each shipping line deploys 1 unit of vessel(total 3 units). The discharging operation is undertaken by Sunkwang Inchon Container Terminal(SICT) in the South Po
High oil price and off-season have fettered the progress of national shipping lines. As shown in the record of first quarter, domestic shipping industry have yet to get away from the deteriorated profitability. STX Panocean is reported to have recorded 133.1 billion Won of business loss in the first quarter. Its sales reached 1 trillion 232.2 billion Won, down 9.3% compared to the same period previous year and the net loss totalled 118.2 billion Won. Hyundai Merchant Marine(HMM) has continued deficit operation for 5 consecutive quarters with sales of 1 trillion 800.0 billion Won and business l
Dr. Oh Kong Gyun, a chairman of Korean Register of Shipping(KR) was appointed as a director of the World Maritime University(WMU) as of 30th April. He is known to have exceptional passion and thirst for training human resources as shown in awarding a scholarship to university students at home and abroad every year aimed at nurturing experts for the future maritime industry. Dr. Oh, who will act as a director for the next couple of years, said "I am honored to take on the role of director at WMU, which is a cradle of the talents leading world maritime industry. I'll make a contribution to the
Inchon Port Authority(IPA) is struggling to achieve the target traffic that was set up early this year. According to IPA, it has been revealed that container traffic in the first quarter recorded 452,000 TEUs, down 0.7% compared to the same period previous year while bulk traffic was 30.61 million tons, down 2.6% as well. Some seasonal factors such as dense fog at sea between winter and spring and Chinese Lunar New Year holiday are thought to have influenced on the traffic of Inchon port, however, IPA staff are alert to such an easygoing way of thinking. Dwelling on a sense of frustration at
The Ministry of Land, Transport and Maritime Affairs(MLTM) announced that air cargo traffic in the first quarter recorded 857,000 tons, down 1.9% compared to the same period previous year. Due to decrease of trade volume, international flight handled 783,000 tons down 2.9% whereas domestic flight recorded 74,000 tons up 9.6% propelled by cargo increase on Jeju route. Looking into the international air traffic, it showed decrease in the Middle East, Japan, China and the U.S. regions affected by the fall in export of IT products including smart phone. However, South East Asia, Europe and Oceani
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