Ministry of Oceans and Fisheries Selects 6 Companies as First 'Excellent Shipping and Cargo Owner Certified Enterprises'
Outstanding Shippers 'Hyundai Glovis, CJ Logistics, Juseong CN Air'... Corporate Tax Reduction
[Sejong=Asia Economy Reporter Joo Sang-don] The Ministry of Oceans and Fisheries selected 'HMM, SM Line, Namseong Shipping' as outstanding shipowners and 'Hyundai Glovis, CJ Logistics, Juseong CN Air' as outstanding shippers.
The Ministry of Oceans and Fisheries announced that it selected the first outstanding shipowner and shipper certified companies and held the 'Outstanding Shipowner and Shipper Certification Award Ceremony' on the 20th.
The outstanding shipowner and shipper certification system was introduced for the first time this year to establish a virtuous cycle system for win-win cooperation between shipping companies and shippers. Upon selection, benefits include ▲reduction of port facility usage fees and berth fees ▲priority in government projects such as entry into port hinterland complexes and support for eco-friendly vessel conversion ▲interest rate benefits from policy finance institutions such as the Export-Import Bank and Korea Ocean Business Corporation ▲partial corporate tax reduction when meeting requirements such as using foreign regular cargo transport operators under the Shipping Act ▲preferential guarantee limits for export credit guarantees from the Korea Trade Insurance Corporation (up to 1.5 times), among others.
Previously, the Ministry of Oceans and Fisheries announced plans to introduce the system through the 'Five-Year Plan for Shipping Reconstruction' in April 2018, and has been working with related ministries to discover benefits and lay the foundation for system implementation. After accepting certification applications from July this year, the first outstanding shipowner and shipper companies were selected through document review, on-site inspection, and evaluation by a certification review committee composed of internal and external evaluators.
Companies certified as outstanding shipowners and shippers presented a blueprint for mutual growth by establishing their own win-win plans, including ▲strengthening long-term cooperation with shipping companies for cargo transport on major export routes ▲expanding the distribution of standard contracts ▲prioritizing shipment opportunities to major shippers on maritime transport service routes. In particular, HMM and Hyundai Glovis signed a basic agreement to promote long-term transport contracts instead of the usual short-term transport contracts typically concluded within one year.
Moon Sung-hyuk, Minister of Oceans and Fisheries, said, "Establishing a virtuous cycle system for win-win cooperation between shipping companies and shippers through long-term transport contracts can be a fundamental solution to resolving difficulties in export logistics and enhancing the competitiveness of national shipping companies." He added, "The government will actively cooperate with related ministries to improve the system by discovering additional benefits and expanding the scope of benefits."
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