BUSAN < invest Korea

According to the Busan Port Authority (BPA) yesterday, container traffic at Busan port increased by 2.9 percent from last year to reach 8.808 million TEU.

The growth was backed by the increase in transshipment. Transshipment cargo at Busan port in the first half of this year rose by 5.6 percent year-on-year to reach 4.32 million TEU.

The increase in transshipment was due to more transshipment at Busan New Port by the Hanjin Shipping, Hyundai Merchant Marine and Korea Marine Transport which have container terminals at Busan New Port, and increased trade in Asia.

Busan port ranked 5th in the world, following Shanghai (16.335 million TEU), Singapore (15.814 million TEU), Shenzhen (11.035 million TEU) and Hong Kong (10.716 million).

Regarding exports and imports, Busan port also observed 4.48 million TEU which increased by 1.6 percent from last year, backed by increased regional trade in Asia despite global economic slowdown.

Total container traffic at Busan port in June stood at 1.493 million TEU, showing a 4.8 percent growth year-on-year.

Source: Newsis (July 25, 2013)

** This article was translated from the Korean.