News
The city of Yokohama will provide financial support to port and harbor transport service providers to underpin the local economy, at a time when the business environment is becoming increasingly harsh due to rises in fuel prices and other factors. More specifically, the city's Port and Harbor Bureau will shoulder some of the costs for marine fuel that transporters have paid for port and harbor carriage services.
To receive the support, port and harbor transporters need to meet all of the following requirements:
1) Must be small and midsize business operators that are capitalized at \300 million (US$ 2 million) or less, have 300 employees or less, do business at the Port of Yokohama in accordance with the Port Transportation Business Act and have business footholds in the city of Yokohama;
2) Must be the parties paying for marine fuel costs and be adversely impacted by fuel price hikes;
3) Must not have received any other public assistance for the fuel cost increases for which they want the support from Yokohama; and
4) Must be in business at the time of application and intend to stay in business after receiving the support.
The financial support from Yokohama will be given for the prices of light oil, gasoline and heavy oil that they paid from April 1 to Sept. 30 for machinery, vehicles and vessels that they operated for cargo carriage at the Port of Yokohama. The Port and Harbor Bureau will shoulder up to 50% of the quantities of light oil, gasoline and heavy oil that they bought that are multiplied by the unit prices for support decided by Yokohama.
