BUSAN < invest Korea

The Busan Port Authority (BPA) announced last week that it will endeavor to promote P3 to Busan Port.

P3 refers to an operational alliance launched by the world’s largest container shipping lines, including the Maersk Line, Mediterranean Shipping Company (MSC) and CMA-CGM.

P3 is expected to operate about 44 percent of total global container shipment and have a huge impact on global container shipping market.

BPA plans to visit the CMA-CGM’s Asia Regional Office in Hong Kong and MSC’s Asia Regional Office in Singapore to present Busan Port’s competitiveness and attract them to Busan.

In October and November, the city will also visit the three companies’ headquarters in Europe and Maersk’s office for its Asia Pacific business.

BPA held a conference last July with P3 shipping companies, terminal operators, scholars and the government to discuss future plans for Busan Port.

It also visited a terminal operator of the New Busan Port to exchange views on future counterplans.

CEO of BPA Lim Ki-tack noted that P3 will have a great influence in global shipping market, adding that he will focus on attracting P3 to Busan Port to increase traffic.

Source Text

Source: Yonhap News (Sep. 22, 2013)

** This article was translated from the Korean.