BPA, continuous upward trend of cargo volume in October

Containers handled at the Busan Port last month stood at 1.122 million TEU representing a 10.4% increase compared with the same month of last year.

The accumulated total of containers handled until October this year reached 11.76 million TEU, an 11.2% increase compared with the same pried of last year.

Among the 1.122 million TEU, import and export cargoes accounted for 629,400 TEU, a 9.6% rise and transshipment cargoes 491,700 TEU, an 11.5% rise year on year.

Taking a look at cargo volume by port, Shinsundae Port handled 210,000 TEU, including 102,500 TEU of transshipment cargoes, for a 25.8% surge and Gamman Port handled 242,800 TEU, including 102,500 TEU of transshipment cargo, for an 18.9% surge.

It is notable that the two ports showed rapid increases of transshipment cargoes; Shinsundae Port marked 28.8% and Gamman Port 37.8%.

Along with the two ports, Gamcheon Port and New Port marked respectively 24.1% and 5.9% increases while the Shingamman Port and the Uam Port showed drops of 2.7% and 10.1% respectively.

It is said that the increase in cargo volume is due to robust economic growth, the abolition of container tax, various incentives and the geographical advantage of Busan Port.

Encouraged by the upward trend of cargo volume, Busan Port Authority (BPA) recently revised its cargo volume estimates from 12.64 million TEU to 13.29 million TEU, a 10.5% increase from the original goal.

Mr. Gang, BPA marketing director said that BPA will strengthen marketing activities aimed at ports located along the western coast of Japan and small and medium Chinese ports to continue the momentum.