Independent journal on economy and transport policy
11:45 GMT+1
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South Korea extends its support plan for the national shipping industry until 2025
At the end of the period, the capacity of the fleet of carriers is expected to be 1.2 million teu
August 12, 2020
The aim of the programme's extension is to increase the turnover generated by the sector by 35 trillion won (29 billion U.S. dollars) in 2020 to 51 trillion won in the 2025 and to increase the capacity of fleets to South Korean companies from 460,000 teu in 2019 to 1.2 million teu in 2025. Originally, the plan was to construction of about 200 ships this year. Seong-hyeok made 164 have been carried out so far this month. In addition Minister specified that in the last two years through the 4.28 trillion won to 49 billion won national shipping companies.
Commenting on the achievements of the shipping companies South Korea, the Minister focused on improving quarterly performance announced today by HMM (12 August 2020), stating that this improvement can be seen as the result of the expansion of the fleet company's competitive performance and performance improvement company's management and opportunities HMM's membership of the shipowner consortium the Alliance in July last year (1st July 2019). However, Seong-hyeok has made it clear that it is too early to be able to talk about a turnaround, even in view of the prolongation of the impact on business pandemic sector of Covid-19.
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The aim of the programme's extension is to increase the turnover generated by the sector by 35 trillion won (29 billion U.S. dollars) in 2020 to 51 trillion won in the 2025 and to increase the capacity of fleets to South Korean companies from 460,000 teu in 2019 to 1.2 million teu in 2025. Originally, the plan was to construction of about 200 ships this year. Seong-hyeok made 164 have been carried out so far this month. In addition Minister specified that in the last two years through the 4.28 trillion won to 49 billion won national shipping companies.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
