Yeosu Gwangyang Port Ranks First Nationwide in Ship Slow-Speed Navigation Program Participation Rate

Published 18 Jan.2023 15:32(KST)

Port Usage Fee Reduction for Ships Operating Below Scheduled Speed

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] Yeosu Gwangyang Port Authority (President Park Seong-hyun, YGPA) announced on the 18th that the participation rate of Yeosu and Gwangyang ports was the highest among all national ports in the 2022 slow-speed vessel operation program.

The slow-speed vessel operation program is a system that reduces port facility usage fees, etc., when target vessels operate below a certain speed to reduce fine dust emissions from ships and improve port air quality.

It is an eco-friendly program that has been officially operated since 2020 and has been running for three years.

Yeosu Gwangyang Port Authority building view [Photo by Yeosu Gwangyang Port Authority]

In 2022, the participation rate of Yeosu and Gwangyang ports in the slow-speed vessel operation program recorded the highest nationwide rate of 80.8%, achieving first place in participation rate for the first time since the program's operation.

The compliance rate was 85.7%, showing an increase of about 3% compared to the previous year.

Janggeum Shipping Co., Ltd. was selected as the excellent participating shipping company for three consecutive years, continuously ranking first in the number of participating vessels and contribution.

Among the participating shipping companies, the top five in the number of participating vessels were Janggeum Shipping Co., Ltd. with 505 vessels, Korea Shipping Co., Ltd. with 445 vessels, Hyundai Glovis Co., Ltd. with 325 vessels, Namseong Shipping Co., Ltd. with 217 vessels, and Korea Maersk Co., Ltd. with 174 vessels, in that order.

YGPA plans to finalize the port fee reduction amount based on the 2022 verification results and pay it to participating shipping companies and agencies in March. The final verification results can be checked within the integrated Port-MIS system.

President Park Seong-hyun said, “As we recorded the highest participation rate among national ports in 2022, we will strive to operate a more active slow-speed vessel operation program through continuous promotion and management.”