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Busan transhipment coup
01 May 2007
In a major coup for the Korean port, Busan has lured Mediterranean Shipping Company’s transhipment business from China’s Ningbo Port.
MSC’s, the world's second largest shipping company, return was the result of “high productivity, timely transportation, and scheduled-based cargo handling at Busan”, the port authority claimed.
The move is expected to add in excess of 400,000 teu of transhipment cargo annually to Busan Port, where container throughput this year is expected to reach 12.6m teu.
In related news, Busan Port Authority (BPA) has sealed an agreement with South Africa’s National Ports Authority (NPA) to promote co-operation and exchange between the ports of Busan and Durban.
The Letter of Intent agrees to mutual cooperation in port development, operation and port environment, while facilitating information exchanges on maritime policies and measures to promote relevant industries.
Furthermore, the BPA has confirmed it is “positively considering” foreign port investment in Bungtau Port,Vietnam and ports in Russia and is said to be reviewing its investment in the ports of South Africa.
