Busan exceeds container goals last year

The Port of Busan revealed that it exceeded goals for container cargoes last year.

According to the Busan Regional Maritime Affairs and Fisheries, Busan handled 9.44 million TEU of cargoes in 2002 including 3.88 million TEU of transit cargoes, well over its 9 million TEU goal for 2002.

MOMAF attributed the growth to continuous cargo growth in Northeast Asia as well as the successful attraction of China Shipping’s transit cargoes to Busan early last year. Vessels loaded over 5,000 TEU usually call at the dominant ports in Northeast Asia, such as Hong Kong, Singapore, Busan and Shanghai, keeping pace with the trend toward larger vessels.

In 2002, Busan showed a hefty 17% growth over the previous year, with an increase of 32% in the transit cargoes playing an important role in the achievement. By contrast, Busan enjoyed 7% growth in 2001 to 8.07 million TEUs.

By country, China took the lion’s share, 2.13 million TEU and North America followed with 1.97 million TEU. Japan ranked third with 1.36 million TEU.

By wharf, Gamman wharf handled 23.89%, or 2.26 million TEU. Jasungdae and Shinsundae came in very close together with about 1.53 million TEU each.

Conventional wharfs decreased by 40 thousand TEU over 2001 to 2.63 million TEU largely due to fewer container vessels calling while more cruise ships to China and Japan called there.

MOMAF expects Busan to hit 10 million TEU this year with 4.5 million TEU of transit cargoes.