Korea P&I, Confident
to Enter the European Market
Korea P&I Club (Chairman, Jong-seug
Park) held the Korea maritime economy group joint seminar with Korea Re, Korean
Register of Shipping (KR), and Daewoo Shipbuilding & Maritime Engineering (DSME)
in Athens on April 16, About 130 attendees consisted of Greek shipowners and
insurance brokers, etc. The seminar was hosted and sponsored by the Shipping
Bureau of Marshall Islands (Korea representative Kim Young-min).
joint seminar was attended by Ambassador, Young-jin Ahn, of the Korean Embassy
in Greece who made a welcome speech about the economic cooperation between the
maritime industry of Korea and Greece.
Chief Operating Officer, Bay Moon’s presentation about “Fixed Premium –
Tailored Products” drew great attention introducing KP&I, the fourth
largest Non-IG Club worldwide, its sound financial structure as a pure non-profit
organization, the limit of cover which suits the operational characteristics of
vessels, the selection of risks covered, competitive rate from the win-win
spirit in connection with to the shipping market’s condition, proactive claim
handling services beyond the IG Clubs, payment guarantee system available worldwide,
and that release calls not required unlike the IG Clubs, etc.
is confident to enter the European market from Greece, the world’s largest
shipping country, as they were able to imprint not only its existence but also
competitiveness through through a series of meetings with 12 shipping companies
and insurance brokers where mutual interests were discussed intensely after the
COO Bay Moon’s presentation, Hyeon-tae Kim and Yoon-jung Heo, the Senior
Surveyors of Korean Register of Shipping presented “Global Sulphur Oxide Cap”
and “New Bulk Carrier Design” explaining the latest trends in the regulations
of the limits for sulfur oxides emissions. There are about 110 Greek vessels
joined the Korean Register of Shipping.
Woo-sik Jung, the general manager of Korean RE presented “Assuring the Future
with Korean Re” introducing the strength of the maritime reinsurance by Korean
Re. They are in business with about 60 shipowners in Greece.
Kim, Director of DSME presented “State of the Art Boil off Gas Handling
Technologies” explaining the superiority of the LNG carriers engineered by DSME
which was in the interest of many attendees.
joint marketing seminar was a good opportunity for Korean maritime/ economic organizations
to be recognized of the status and competitiveness of the shipping industry of
Korea as well as setting up a network with Greek shipowners.
are 85 vessels of 6 countries are entered into KP&I as overseas fleet,
majority of which are Southeast Asian vessels including Singapore.
is the world's leading shipping country who owns 309 million DWT which marks 16.7%
of the world’s fleet.