Pusan Port falls to world's fifth largest port

Pusan Port dropped to fifth position among world ports due to falling container cargo handling rates.
According to MOMAF (Ministry of Maritime Affairs & Fisheries), the Port of Pusan handled 854,587 TEU cargoes last month while the Port of Shanghai handled 970,000 TEU cargoes during the same period.
To this, Pusan Port lost its position as third, being displaced by Shanghai Port. Also, cumulative handling cargoes through Pusan Port were 6,079,000 TEU, while Shanghai Port recorded 6,188,000 TEU.
In addition, Shenzen Port in South China handled 864,000 TEU containers last month, out-performing Pusan Port as well.
Though cumulative handling cargoes through Shenzen Port didn't reach the same levels as Pusan Port, the port may well overtake Pusan Port in total cargoes this year.
The changes have been mostly attributed to decreasing of transshipment cargoes through Pusan.
In fact, transshipment cargoes through Pusan Port have been decreasing continuously for some time. The port handled only 345,070 TEU transshipment cargoes last month following 368,251 TEU in May and 360,145 TEU in June.
An insider at MOMAF said, "Handling volumes at Pusan Port are decreasing much more rapidly than we expected," and added, "We need a counter plan for efficient container operation for New Pusan Port construction."