Special Meeting of IADA Held in Korea

IADA (Intra Asia Discussion Agreement) held a special ship owners' cou
ncil in the Westin Chosun Hotel from August 2nd to 4th. At the meeting
, the main point of discussion centered on structural problems like a
Korean line of credit, the inability to collect on surcharges such as
THC (Terminal Handling Charges), BAF (Bunker Adjustment Factor), Demu
rrage charges, and Detention charges.
The main IADA meeting started at 2 o'clock on August 3rd. Before that,
informal meetings were held to discuss the trade situation between Ja
pan and Thailand.
Thirty shipping companies from all over the world attended the meeting
s, including companies from Taiwan, China, the United States, Europe,
Japan, South East Asia, and 7 Korean shipping companies.