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Seaborne freight announcement system · Shipping transaction unfair act reporting center

Shipping policy business operation

Seaborne freight announcement
system· Shipping transaction
unfair act reporting center

KOBC entrusts the confirmation of freight announcement, deferment of announcement, reports and operates a center for reporting unfair acts in shipping transactions. In addition, the Corporation contributes to establishment of a fair market competition order and sound development of the shipping industry, preventing unfair and excessive competition through announcement of container ship freights and charges.

Feature and Benefit

Prevent unfair act and excessive competition through announcement of freights and charges
Guarantee the right to know by announcing the major charges borne by the shipper
Contributing to the market order of shipping transactions by requiring reporting of violations of shipping laws by shipping companies or shippers

Key details

Announcement of freights and charges : The person responsible for announcement reports in the PORT-MIS

Key details
Classification	Details
Person responsible for announcement	Operators that regularly transport container cargo among outbound cargo transportation operators, foreign operators, and outbound passenger transportation operators
Announcement details	General details such as information of Person responsible for announcement, import/export status, container ownership and cargo types, and freight by route, container types and size, and Bunker Adjustment Facfor, Terminal Handling Charge, Currency Adjustment Factor, Wharfage
Subject to Announcement	Freights and charges applicable to all routes and services to ports in Korea as origin, destination, or stopover
Method of Announcement	The freight announcement amount shall be the average of the highest and lowest prices for each route, and deviation between the highest and lowest shall be within ±10% of the average (4 times a year; Mar., Jun., Sept., and Dec.).

shipping transactions Unfair act reporting center : Anyone can report violations of shipping laws by shipping companies or shipper

Key details
Classification	Details
Prohibited acts for shipping companies	Receiving more or less than the freights and charges announced Refunding a portion of a freight or charge already received with intention to Receive less than the freight or charge announced Failing to perform or unilaterally changing the contract of carriage without any special reason
Prohibited acts of shippers	Carrying goods at a price higher or lower than the announced freights and charges Receiving a refund of part of freights and charges paid through a freight bill falsely related to items or class of freight Inducing or coercing unfair participation in a bid or signing a Contract by taking advantage of a superior position
Reporting center operating organization	Ministry of Oceans and Fisheries, Korea Ocean Business Corporation, Korea Shipping Association, Korea International Trade Association