Busan port CEO says time's right to cash in on location in current climate
THE Busan Port Authority (BPA) is on track to handle 20 million TEU of container cargo in 2016, which represents a 2.8 per cent increase from 2015, reports Rotterdam's World Maritime News.
In 2015, Busan recorded 19.45 million TEU of which 9.336 million TEU was local cargo and 10.114 million TEU was transshipment cargo -these numbers were up 0.9 per cent and 7.3 per cent respectively from the year before.
In light of a sluggish shipping market and an average growth rate of around four per cent seen by the world's top 10 ports in 2015, BPA admits that its ambition for 2016 is challenging.
"However, the port is confident of achieving this growth by strengthening its customer service activities; subsidising the cost of inter-terminal transportation of transshipment cargo; and establishing an empty cargo storage area in the New Port.
"In addition, BPA will hasten its integration plans at North Port to deliver a single unified terminal operator, which will also become a shareholder," said the port authority statement.
Additional terminal construction at New Port will be accelerated to meet current cargo demand and to ease congestion at peak times," it said.
In 2016, BPA also plans to put more focus on the development of the Distripark to attract more multi-national logistics companies as tenants.
To assist growth, BPA is creating a new international business division which will focus on global expansion of the port's logistics network, new business opportunities along with enhanced research and analysis of key markets and trends and the establishment of big data.
In addition, BPA plans to enhance its current cooperation activities with other ports, particularly those in developing countries.
"As one of the world's largest container ports, we must focus our efforts on the international markets to ensure our continuing growth and development," said BPA chief executive Yejong.
"We are well placed, geographically, to handle domestic, international and transshipment cargoes and our modern terminal facilities and extensive Distripark make us an excellent choice for vessel and cargo owners.
"We will continue to diversify our portfolio and enhance the service we deliver to our customers in 2016 and beyond," he said.
THE Busan Port Authority (BPA) is on track to handle 20 million TEU of container cargo in 2016, which represents a 2.8 per cent increase from 2015, reports Rotterdam's World Maritime News.
In 2015, Busan recorded 19.45 million TEU of which 9.336 million TEU was local cargo and 10.114 million TEU was transshipment cargo -these numbers were up 0.9 per cent and 7.3 per cent respectively from the year before.
In light of a sluggish shipping market and an average growth rate of around four per cent seen by the world's top 10 ports in 2015, BPA admits that its ambition for 2016 is challenging.
"However, the port is confident of achieving this growth by strengthening its customer service activities; subsidising the cost of inter-terminal transportation of transshipment cargo; and establishing an empty cargo storage area in the New Port.
"In addition, BPA will hasten its integration plans at North Port to deliver a single unified terminal operator, which will also become a shareholder," said the port authority statement.
Additional terminal construction at New Port will be accelerated to meet current cargo demand and to ease congestion at peak times," it said.
In 2016, BPA also plans to put more focus on the development of the Distripark to attract more multi-national logistics companies as tenants.
To assist growth, BPA is creating a new international business division which will focus on global expansion of the port's logistics network, new business opportunities along with enhanced research and analysis of key markets and trends and the establishment of big data.
In addition, BPA plans to enhance its current cooperation activities with other ports, particularly those in developing countries.
"As one of the world's largest container ports, we must focus our efforts on the international markets to ensure our continuing growth and development," said BPA chief executive Yejong.
"We are well placed, geographically, to handle domestic, international and transshipment cargoes and our modern terminal facilities and extensive Distripark make us an excellent choice for vessel and cargo owners.
"We will continue to diversify our portfolio and enhance the service we deliver to our customers in 2016 and beyond," he said.