Busan Port Cargo Volume For 2017 Surpasses 20 Mil. TEU

Busan Port’s total trade volume is expected to exceed 20 million TEUs in 2017.

Busan Port Authority(BPA, president WOO Ye-jong) stated that BPA will co-host a ceremony on the 26th to express its gratitude to port and logistics industry workers for their hard work to achieve its goal to handle 20 million TEUs.

Representation Image Credits: busanpa.com

Despite the turmoil in the shipping and port sector triggered by Hanjin Shipping bankruptcy, The spike was attributed to Busan Port workers’ concerted efforts.

‘20 million TEU’ is the largest cargo volume handled in Busan Port in 141 years since its opening in 1876. Furthermore, Busan Port’s first container pier, Jasungdae Pier, became the world’s 2nd largest container T/S hub only in 40 years since its opening.

By handling 20 million TEUs, Busan Port truly became a mega port. Moreover, Busan Port is facing another opportunity that can make a new leap to be a global logistics hub creating high added value.

BPA President WOO said “By utilizing a new opportunity, we will create better business environment where all the related industries, groups, and organizations can prosper. We will create more jobs in the port sector to become a national corporation co-existing with citizens.”

Furthermore, BPA plans to take the lead in swiftly changing market conditions and resolving safety and environment issues.

Reference: busanpa.com