Korea Shipowners' Association(KSA) has recently taken the definite opposite stance on the introduction of market-based measures such as emissions trading system and carbon tax to control emission of ship's green-house gases that European Commission(EC) is propelling. EC is collecting the opinions from the stakeholders with regards to application of market-based measures to the emissions trading system(reducing emission of green-house gases and salepurchase of the certified emission reduction) or carbon tax(levying certain rate of tax on ship's fuel) targeting for the vessels coming in and out
Korea Shipowners' Association(KSA) has recently sent an official document to 5 power companies under the control of Korea Electric Power Corporation(KEPCO) that Japan-affiliated shipping lines should be excluded in a bidding for transporting imported coal on the ground that Japanese power companies have always blocked participation of domestic shipping companies in their bidding. KSA demanded in a document "5 national power companies have continuously allowed NYK Bulkship Korea to join in the bidding since its first contract of long term traffic right for the imported coal in 2004. This is ve
The Ministry of Land, Transport and Maritime Affairs(MLTM) has reported that container traffic all over the Korean ports in March recorded 1,968,000 TEUs, which is up 4.0% compared with the same month previous year. This figure is the highest ever. The port of Busan contributed most to all-time high record by handling 1,495,000 TEUs(6.7% up). According to "Survey on the recent trend of export/import sea traffic and its freight" published by Korea International Trade Association(KITA), such a sharp increase in container traffic has been affected by the rise in working days compared to the same
“The freight on European route and emerging market has been raised and there will be additional increase on the major routes in April and May. That will make Hanjin Shipping return to profit in the second quarter." Mr. Kim Young Min, a CEO of Hanjin Shipping, expressed his confidence at the press conference held on 2 April. Last month Hanjin raised the freight on European route by 700 dollars per TEU and is going to increase it again within this month. As for Pacific route, the freight was also raised by 300 dollars as of 15th of March and is scheduled to have further increase on 1st of May.
Yeosu Gwangyang Port Authority(YGPA) reported that their incentive system has been bettered and will be enforced to promote activities of the container terminals. The system was reformed to concentrate on the cargoes that may be able to increase traffic volume of the port, breaking away from the hitherto allocation of performance based aid funds. The port authority has decided to pay maximum 15,000 Won per TEU for the increase in import containers(exclusive of empty containers) and transshipment containers(inclusive of empty containers) in order to correct the imbalance of export/import traff
The Ministry of Land, Transport and Maritime Affairs(MLTM) reported that the container traffic of whole Korean ports in Feb. recorded 1.64 million TEUs, which is up 12.4%(up 8.4% for total until Feb.) from the same month previous year. Export/import cargoes marked 1,029,000 TEUs, transshipment cargoes 575,000 TEUs and coastal cargoes 38,000 TEUs. The traffic hit an all time high as that of Feb. According to the analysis, it was affected by the rise in working days compared to the same month previous year, steady increase in transshipment cargoes and a switch to upturn in export/import traffic
Major Korean shipping companies recently announced their business performances for the year 2011. Most of the shipping lines went through the fall in the sales and the leading companies turned to deficit. Increase in the loss of the shipping lines results from the continuing recession, deterioration of shipping market conditions and high oil prices and it has something in common with the world-wide recession in shipping industry. Hanjin Shipping recorded turnover of 9 trillion and 165.9 billion Won while Hyundai Merchant Marine showed 7 trillion and 420.8 billion Won. STX Panocean was 5 trill
Gyeonggi Pyeongtaek Port Corporation(GPPC) held 'the presentation meeting to increase cargo traffic in the port of Pyeongtaek inviting CEOs of international logistics companies' at the Foreign Journalists' Club, the Press Center on 16th Mar. Over 90 people including CEOs and executives of logistics firms attended this meeting. The details explained at this event were the current status of wharf facilities of the port, advantages of the hinterland which is a Free Trade Zone as well as its development plan, incentives for cargo attraction and support services regarding use of port. Mr. Hong Chu
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