Port of Busan keeps growing with transshipment cargoes

The Port of Busan saw container volume increase by double-digit figures last month thanks to a jump in transshipment cargo volumes.

The Minister of Land, Transport and Maritime Affairs (MLTM) announced the Port of Busan’s total volumes rose 16.9% up to 1,377,000 TEU compared with the same period last year. Due to an increase in trade between China and Russia, its import and export volumes climbed 9.2% to 737,000 TEU.

The transshipment cargo volumes have continued to grow since March, and it has recorded double-digit figures - more than 20% - for 8 months. It increased 26.9% to 629,000 TEU compared to a year ago.

The main reason that the transshipment cargo volumes jump up is the expansion of calls in the Port of Busan. Maersk and CMA CGM, the world’s biggest carriers, have called at the port 18 times compared with 12 times in the last year on their Asia-Europe and U.S. east coast. Especially, the cargo volume between China and Busan soared 48.6% to 202,000 TEU compared with October 2010.

Ports of South Korea handled 1,817,000 TEU in total, climbing 11.8% compared to last October. The ports handled import and export cargos of 1,125,000 TEU, growing a little bit at 5.2%, but transshipment cargoes of 659,000 TEU jumped 26% compared with the same period last year.

A representative of MLTM said, “Owing to the global economic depression, we worried about decreases in volume, but China shows steady growth, so the Port of Busan has kept more than 20% growth in transshipment cargoes for 8 months in a row. We expect the port's total cargo volume will reach 20 million TEU this year.” <김보람 기자 brkim@ksg.co.kr>