Terminal operating companies voluntarily agree to unity

After the Ministry of Maritime Affairs and Fisheries releaved its intention to see the terminal operating companies unified in the third, fourth and central wharfs in the Port of Pusan, the terminal operating companies voluntarily pushed ahead to unify their terminal operations. As more than two stevedoring companies worked for one conventional wharf, the redundancy produced problems. The government expects that a single operating company system will improve efficiency.
According to the Pusan Regional Maritime Affairs and Fisheries, conventional wharf operating companies such as Kukje Express, Global Enterprises, and Korea Express temporarily agreed to integrate the three companies? operating rights into a single operating company through a consortium by June, 2004.
The operating companies agreed to leave the consortium constitution under the Pusan Port Stevedores Association and to decide shares through outside appraisals. The association will order research projects for asset and value appraisals of 7 terminal operating companies (TOC) on the conventional wharfs and discover ways to improve terminal operating efficiency within October. The association also plans to automate terminal gates like those of other container-dedicated terminals
An insider from Pusan MOMAF said, ? single operating company system on the conventional wharf will greatly improve the wharf. The upgraded conventional wharfs, which usually handled transshipment cargoes, lead Pusan to become internationally competitive.