The South Korea government will be exempting import levies of liquefied natural gas (LNG) in support of LNG bunkering next year, according to local media.
The Ministry of Trade, Industry and Energy on Friday (6 August) submitted a partial amendment to its Enforcement Decree of the Oil and Petroleum Alternative Fuel Business Act to support the change.
Current levies of LNG material imported to South Korea are tagged at KRW 24,242 per metric tonne; the development will result in this levy being effectively zero from 1 January 2021.
Note: The partial amendment to Ministry of Trade, Industry and Energy Enforcement Decree of the Oil and Petroleum Alternative Fuel Business Act can be obtained from their official website here.
Further initiatives by South Korea to support the use of LNG as a bunker fuel can be found below:
Related: KOGAS joint venture appoints Hyundai Heavy Industries to build LNG bunker vessel
Related: South Korea: Ministries unveil initiative to advance green tech for shipping & marine fuel
Related: Naming ceremony held for South Korea’s first LNG-powered bulk carriers
Additional topics of bunker contamination and OCM services discussed at VPS’ Fuel Management Challenges – The Year of 2021 & Beyond webinar on 23 September; Manifold Times summarises the session.
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Lead prosecutor Andreas Myllerup Laursen aims for a fine and a prison sentence in the so-called Syria case scheduled to commence in Odense, Denmark on 26 October, writes the Danish publication.
In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
Bunker barge owners and operators; traders and suppliers; banks, including players in other countries, will have to re-examine respective operations, advises Helmsman Associate Director Jonathan Tan.
Vopak BL was a non-essential document with no contractual force and had no effect as a contract of carriage or as a document of title, states written Judgement issued by Singapore Court of Appeal.