The Korea Maritime Transportation Safety Authority (KOMSA) said on March 9 it is leading efforts to build a ship trading ecosystem and strengthen the safety of ship brokerage jobs by providing consumer-oriented core information and improving users’ environment. KOMSA said it will do so via the ship trading platform, dubbed “Ship Transaction System.”
In order to transact ships, it is essential to confirm sales information, such as size and main engines, information on fishing registration and permission, information on expiration period of certificates of ships up for sale, inspection career and upcoming inspections, and information on ship transaction companies who have finished up ship trading brokerage.
In the past, buying and selling ships had been done through human network and unregistered brokers, and some were found to be involved in illegal practices, such as transacting illegally built ships and reselling ships after paying up ship transaction money.
KOMSA has been operating the Ship Transaction System to establish a fair and transparent ship transaction environment in cooperation of the Ministry of Oceans and Fisheries (MOF).
The system has been overhauled. Not only can essential information on ship transactions between buyers, sellers and brokers be confirmed, but so can information on registration and permission and inspection, and information on ship brokerage, plus current prices of ships following transactions.
A view of the website of the ship trading platform, dubbed “Ship Transaction System.
In particular, improving the system to enable searches for ship brokers and optimizing the mobile website and mobile channel will allow anyone to look up information on ships for sale, and brokers registered in each region of the nation at a glance.
KOMSA provides support to creation of ship brokerage jobs and education on ship brokerage through the ship trading system.
Businesses wanting to have their brokage registered are required to receive education on new registration.
Applications on educating on new brokerage registration have been accepted from Feb. 27 through March 17.
KOMSA CEO Kim Jun-seok said, “KOMSA will operate the Ship Transaction System so that people using it can be satisfied by expanding the scope of information necessary for transaction and a fair and transparent transaction environment can be established and spread through improved functions of the system.”
KOMSA Implements Project to Support Supply of Eco-Friendly Ships
The Korea Maritime Transportation Safety Authority (KOMSA) will receive applications until March 31 on eco-friendly subsidies targeting inner and outer port ships for the year 2023 in order to achieve carbon neutrality of the marine and fisheries sectors.
KOMSA said on March 7 the authority is implementing a project to reduce greenhouse gas emissions, discharged by ships by subsidizing 10 percent of the costs for installing power engine limit and auxiliary equipment pieces below a maximum of 10 million won.
The step is designed to ease the financial burden for SME ship owners. Under the project, 1.5 billion won in subsidies will be supplied to target about 500 ships during this year.
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