Cargo handled at Busan Port on sharp upswing

The amount of container cargo handled at Busan Port is on an sharp upward curve, the Busan Regional Maritime Affairs and Fisheries Office said yesterday.
According to the office's report on the port's performance, the world's third largest container port handled a total of 763,888 TEUs (20-feet equivalent units) last month, a 15.8 percent rise from 659,502 TEUs handled at the same month last year.

The increase was the second consecutive monthly rise from July, when a total of 793,634 TEUs were handled, up 18 percent from 673,154 TEUs recorded a year earlier.

In the first half the year, the port handled a total of 4,273,021 TEUs, an average 8.5 percent rise from the same period last year.

Last month, Busan Port handled 219,316 TEUs for exports, up 12.1 percent on year, and 217,253 TEUs for imports, up 10.5 percent. The growth rate for transit cargo was much higher at 26.4 percent, totaling 326,963 TEUs.

From January to August, the total number of containers managed at the port reaches 5,830,543 in terms of 20-feet units, up 10.7 percent from the same period last year, the statistics showed.

The officials said that it will not be difficult to reach the yearly target of nine million containers by the end of this year if the upward trend persists.

In addition to the number of containers managed at the port, the office also announced a survey on regular container vessels that called at the port. The survey, first of its kind since the opening of Busan Port, was conducted for six months this year.

The survey revealed that there are 12 domestic shipping companies and 37 foreign shipping firms operating a total of 569 container vessels at the port.

By company, Hanjin Shipping Co. possessed 70 vessels, followed by Hyundai Merchant Marine at 41 vessels, Korea Marine Transport Co. and Woosung Shipping Co. each at 28 vessels and Heung-A Shipping Co. and P&O at 27 each.

If the vessels were to arrive at Busan Port empty and loaded on the spot, a total of 1.4 million 20-feet containers can be shipped simultaneously, the survey said.

By shipping firm, Hanjin handled the largest number of containers at 255,000, followed by Hyundai at 132,000, Denmark's Maersk Sealand at 110,000, and P&O at 85,000.

The survey said the top 10 shipping companies handled 72 percent of total container cargo at the port.

Container vessels called at Busan Port then went on to a total of 1,563 different harbors, including 126 harbors called at by Korea Marine Transport, 115 by P&O, 110 by Heung-A, and 91 each by Hanjin and Hyundai.

The majority of vessels at Busan Port, or 44.2 percent, headed towards the northeast Asian regions, while 17.5 percent sailed to southeast Asia, 13.4 percent to North America, 8.3 percent to Europe, 6 percent to Oceania, 5.1 percent to South America and 1.8 percent to the Middle East.

Only 19 percent of the container vessels stopped at Gwangyang Port as well, while just three ships regularly called at Gwangyang Port alone.

The regional office provided the results of the survey to each shipping companies and agencies for use in their new route launches, changes in destination, and adjustments of handling size. The survey will now be conducted every two years, the officials said.