[ Freight on Korea-Japan Route to rise from around End of This Year ]

Freight on Korea and Japan route is expected to be rised remarkably for
the first time in 6 years since the year of 1988.
It is known that 12 lines operating on Korea and Japan route including
Jang Yung Line, Chun Kyung Shipping Co., and Tai Young Shipping Co.,
etc came to an agreement to rise the freight of bulk cargo on the route
by average 23 percent.
At the same time, they decided to reduce the current freigt rate system
classified by 16 items to by 9 ones and informed the Korea Shipper’s
Council of these decisions.
In fact, the carriers originally planned to apply this increased rates
from this November but according to the Korea Shipper’s Council’s
opposition, they are going to charge the increased ones from around this
December or earlier next year.
The carriers explained that such the rise is inevitable because of the
cost increase due to strengthening of Yen and the rise in various ex-
penses including port charge.
In the meanwhile, bulk cargo transported on this route during last year
reached around 26.2 million tons.