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
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
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UPDATE: 2025년 06월 15일 10시 18분
