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Restrictions & Sanctions

Trading restrictions (Korea, Republic of)

Trading restrictions imposed against the Republic of Korea

  • Asian Gypsy Moth
    Korea is considered an area of potential risk. See: Phytosanitary Issues: Asian Gypsy Moth
  • China - Taiwan, Province of China
    South Korean flagged vessels are banned from loading / discharging cargo(es) which are coming from or destined to Japan, with the exception of non-liner vessels carrying bulk cargo/bulk shipments.

Trading restrictions imposed by the Republic of Korea

According to information received from local contacts the following is applicable:

In nearly all cases the following will require government approval / permission to call at a Republic of Korea port.

- vessels of D.P.R. of Korea flag / registry
- vessels owned, managed or operated by D.P.R. of Korea
- vessels with crew and/or officers from the D.P.R. of Korea

Vessels sailing from the Democratic People's Republic of Korea to the Republic of Korea, or vice versa, must first obtain permission from the Ministry of National Unification prior to arriving at a Republic of Korea port. Such an application normally takes 5 to 7 days to process if all documentation is in order. 

Tanker vessels of more than 20 years are now permitted to call at Republic of Korea ports provided they are well maintained, managed, etc... so as to pass Port State Control, as well as, receivers inspections. 

Bulk carriers of more than 20 years are permitted to call provided they can pass Port State Control inspection and hold a valid P&I Entry Certificate accepted by the government. According to information received the following Protection and Indemnity Associations are accepted.

American Steamship Owners Mutual P and I Association, Inc.
Assuranceforeningen Gard
Assuranceforeningen Skuld
Gard P&I (Bermuda) Ltd.
Skuld Mutual Protection and Indemnity Association (Bermuda) Ltd.
The Britannia Steam Ship Insurance Association Limited
The Japan Ship Owners' Mutual Protection & Indemnity Association
The London Steamship Owners' Mutual Insurance Association Limited
The North Of England Protecting & Indemnity Association Limited
The Shipowners' Mutual Protection & Association (Luxembourg)
The Standard Steamship Owners' Protection & Indemnity Association (Bermuda) Limited
The Standard Steamship Owners' Protection & Indemnity Association (Europe) Ltd.
The Standard Steamship Owners' Protection & Indemnity Association (London) Ltd.
The Standard Steamship Owners' Protection & Indemnity Association (Asia) Limited
The Steamship Mutual Underwriting Association (Bermuda) Limited
The Steamship Mutual Underwriting Association Ltd.
The Swedish Club
United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited
United Kingdom Mutual Steam Ship Assurance Association (Europe) Ltd.
The West of England Ship Owners Mutual Insurance Association (Luxembourg)
Lloyd's Syndicate

Members trading such vessels to Republic of Korea ports would be well advised to consult with their port agents and P&I clubs beforehand to ensure compliance with the regulations.


See also United Nations Security Council Resolutions

Restrictions & sanctions (Korea, Republic of)

Bunker prices: sourced from www.mabux.com

Current bunker prices Last Updated: 23:05 (GMT) - 31 March 2020

PORTS 380cSt 180cSt VLS FO MGO LS
Rotterdam 140 ↑ (+10) 226 ↓ (-4) 299 ↓ (-2)
Singapore 180 → (+0) 270 ↑ (+5) 290 ↑ (+5)
Fujairah 220 ↑ (+19) 279 ↓ (-1) 447 → (+0)
Copenhagen 163 ↑ (+5) 244 ↓ (-4) 321 ↓ (-2)
Gothenburg 160 ↑ (+5) 241 ↓ (-4) 318 ↓ (-2)
St. Petersburg 145 ↓ (-5) 190 ↓ (-5) 270 ↓ (-5)
Tallinn 155 ↑ (+5) 254 ↓ (-4) 336 ↓ (-2)
Gibraltar 225 ↓ (-5) 250 ↓ (-10) 320 ↓ (-10)
Pireaus 206 ↓ (-10) 277 ↓ (-13) 302 ↓ (-5)
Istanbul 305 ↓ (-5) 335 ↓ (-5)
Houston 167 ↓ (-10) 210 ↓ (-15) 332 ↓ (-5)
Panama Canal 209 ↓ (-33) 285 ↓ (-20) 353 ↑ (+1)
Santos 275 ↓ (-1) 275 ↓ (-1) 461 ↓ (-5)
Buenos Aires 345 → (+0) 580 → (+0)
Hamburg 177 ↓ (-3) 227 ↓ (-3) 299 ↓ (-6)
Riga 152 ↑ (+5) 246 ↓ (-4) 350 ↑ (+14)
Suape(XB)
Antwerpen 142 ↑ (+10) 228 ↓ (-4) 301 ↓ (-2)
New York 197 ↓ (-10) 260 ↓ (-20) 345 ↓ (-3)
Philadelphia 200 ↓ (-10) 265 ↓ (-20) 350 ↓ (-3)
Hong Kong 205 ↓ (-7) 275 ↓ (-6) 280 ↓ (-6)
Genoa 192 ↓ (-10) 338 ↓ (-10) 404 ↓ (-10)
Augusta 365 ↓ (-10) 418 ↓ (-10)
Rio de Janeiro 300 ↓ (-1) 300 ↓ (-1) 431 ↓ (-5)
Bremerhaven 172 ↓ (-3) 257 ↓ (-3) 324 ↓ (-6)
Paranagua 305 ↓ (-1) 305 ↓ (-1) 494 ↓ (-5)
Rio Grande 305 ↓ (-1) 305 ↓ (-1) 495 ↓ (-5)
Recife
Salvador 313 ↓ (-1) 313 ↓ (-1) 476 ↓ (-5)
Fortaleza 291 ↓ (-1) 291 ↓ (-1) 484 ↓ (-5)
Fremantle 450 → (+0) 480 → (+0)
Belem 334 ↓ (-1) 334 ↓ (-1) 508 ↓ (-5)
Tubarao 300 ↓ (-1) 300 ↓ (-1) 484 ↓ (-5)
Curacao 533 ↓ (-90) 658 ↓ (-111)
New Orleans 235 → (+0) 290 ↑ (+5) 360 ↑ (+5)
Manaus 314 ↓ (-1) 314 ↓ (-1) 472 ↓ (-5)
Niteroi 300 ↓ (-1) 300 ↓ (-1) 431 ↓ (-5)
Praia Mole 300 ↓ (-1) 300 ↓ (-1) 484 ↓ (-5)
Suape(XP)
Vila do Conde 334 ↓ (-1) 334 ↓ (-1) 508 ↓ (-5)
Vitoria 300 ↓ (-1) 300 ↓ (-1) 484 ↓ (-5)
Itaqui (XP) 337 ↓ (-1) 337 ↓ (-1) 502 ↓ (-5)
Miami 214 ↓ (-10) 385 ↓ (-5)

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