Ino Beloka

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S. Korea reveals US$690M package to modernize aging ships

Yonhap reports that South Korea recently unveiled a financial package worth 820 billion won (US$690 million) with the aim to help modernize aging passenger boats and cargo vessels. The move is part of South Korea's efforts to strengthen maritime safety and boost the economy. It is said that the package in particular is meant to help smaller shipping companies build 59 new ships; of them 21 will be passenger boats and the other 38 will be cargo vessels.

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COVID-19 brings a new crisis at sea: The case of seafarers and containerships

21 months living with COVID-19 and the global shipping community, as well as the global supply chain, is still in crisis. On one hand, container shipping experiences unforeseen delays, while on the other hand, seafarers remain stranded, working with extended contracts due to the difficulties of crew changes. And what is worse; it seems that a return to normal is not on the cards just yet…

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