During a maritime drill, six South Korean Navy Sailors were injured on Tuesday, March 3, when a grenade exploded inside a high-speed battleship, with the reasons remaining unknown. It is stated that from the 30 sailors onboard the vessel, two were severely injured and four others sustained light injuries. All sailors were transmitted to nearby hospitals.
A total of 32 people were injured after an explosion at South Korea’s Lotte Chemical plant at Daesan Port, in the southwestern city of Seosan, which made the company to shut its naphtha cracker.
South Korea will take additional steps to support local shipping companies and passenger ferry operators, amidst increasing concerns over economic impacts due to the global spread of the new coronavirus. Specifically, South Korea will distribute 60 billion won (US$49.7 million) for passenger line operators and port cargo handling firms
The Busan Port Authority shake hands with Samsung SDS and inked an agreement in order to develop and operate a logistics center based in Rotterdam, Netherlands. In fact, through their contract, BPA will be responsible for the logistics hub’s establishment.
Following news that the owner of the ill-fated Stellar Daisy was found guilty over the bulk carrier’s sinking, the Busan District Prosecutors’ Office plans to appeal to a higher court, seeking greater punishments for those involved in the tragic incident.
Removing barriers to women joining the maritime sector, as well as the importance of education and how to increase visibility of women in maritime leadership roles, were some of the key challenges under the spotlight at a major symposium at IMO Headquarters in London, on 19 February.
Japan has formally requested WTO dispute consultations with South Korea regarding alleged subsidies provided by the S. Korean government to its shipbuilding industry. Japan’s request was circulated to WTO members on 10 February.
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.
Japan has filed a petition against South Korea with the World Trade Organization, in which it accuses Seoul of providing excessive aid to the domestic shipbuilding industry. Last week, Japan called South Korea to talk regarding the matter based on WTO rules. However, if the negotiation fail, Japan will seek to establish a dispute settlement panel.
The Cabinet of South Korea has approved a motion based on nurturing industries for eco-friendly vessels, in order to deal easier with the strict IMO 2020 regulations and reduce the shipping emissions. Namely, the trade ministry reported that would force a set of measure, to spread and boost the development and supply of such ships.
