Korean shipping firm tariff incomes shoot up 10.4%

Korean ocean-going shipping companies recorded sharp jumps in tariffs last year.

According to recent a Korea Shipowners Association report , import and export trade cargoes centered on Korea, and cargoes in cross-trade totaled 476.32 million tons, declining 2.2 percent compared with the previous year's 487.21 million tons.

Tariff incomes through these trades, however, including charterage, grew by 10.3 percent to earn $11,268,316,000 over the previous year's $10,211,645,000.

These increases accounted for the good oil tanker market last year, and the recovery of tariffs in some ocean trade lanes such as those bound for North America and Europe. . In addition, rises in charterage for Korean shipping firms helped last year's tariff increase.

Korean outbound cargoes in 2000 amounted to 60,256,000 tons, up 5.6 percent over 57,055,000 tons in the previous year. Tariff incomes also increased by 9.7 percent to $2,402,533,000 from $2,190,882,000 in the previous year.

Even though cargoes in inbound trade fell by 3.0 percent to 229,798,000 tons over the pervious year, rates jumped 10.6 percent to $2,744,931,000.

Cross trade cargoes by Korean shipping companies recorded 181,640,000 tons, down 3.8 percent over 188,795,000 tons a year earlier. Rates income in cross trade cargoes totaled $5,573,838,000,an increase of 9.0 percent over a year earlier.

Transit cargoes by Korean liners stood at 4,627,000 tons compared with 4,569,000 tons in the previous year, increasing a meager 1.3 percent with $95,056,000 in rates incomes.

Korean liner charterage amounted to $451,958,000, climbing 35.7 percent compared with last years $332,976,000.