Seoul Steps In Again To Support Extra Loader Sailings And Subsidies For SMEs

70

The South Korean government has again stepped in to initiate “extra loader” sailings to ensure that the country’s exporters have sufficient container shipping slots amid the current capacity crunch.

Support measures

On Friday, the Ministry of Trade, Industry and Energy announced support measures to prepare flag-carrier HMM and domestic feeder operators for rising freight costs caused by liner operators rerouting around the Cape of Good Hope, a situation coinciding with the peak season.

This month and next, HMM will deploy three 9,000 teu ships on transpacific routes and to the Persian Gulf. Then, until November, five 13,000 teu ships and two 1,800 teu vessels will be deployed on additional ad hoc sailings.

A temporary container depot will be set up near Busan New Port, offering storage of up to 700 teu, at rates cheaper than standard prices.

The ministry explained: “In order to closely monitor trends and respond quickly, we will continue to operate the export/import logistics emergency response team, and provide information through Korea Trade-Investment Promotion Agency.”

Did you Subscribe to our daily newsletter?

It’s Free! Click here to Subscribe

Source: Loadstar