The Korean Ministry of Ocean and Fisheries and the Busan Port Authority have announced a long-term vision and strategy to develop Busan Port into a global trans-shipment hub port.
In recent years trans-shipment cargo at Busan has grown by 10% (average) year-on-year while local cargo has increased by 4.2%.
In 2014, trans-shipment activities overtook local cargo operations for the first time in the port’s history with trans-shipment accounting for 50.5% (9.43 million TEU) up from 31.7% in 2000.
Taking a lead from this success, the Korean government and BPA are implementing concrete plans to consolidate and strengthen Busan’s position as a global trans-shipment hub.
The first step is to integrate container handling activities currently undertaken at North Port and New Port into a single New Port location. This will also include the creation of eight new berths at New Port by 2020 – these will add a further 6.21 million TEU capacity.
Added to this, a feasibility study will investigate further expansion to the western container terminal at New Port.
In addition, a feeder terminal for intra-Asian carriers will be created to serve the feeder network within the port.
Meeting the demands for ever-growing container ships, the current program of dredging to a depth of 17m will be completed ahead of schedule in March 2017.
Todo Island, currently situated in the port entrance, will be removed by 2019 and the entrance itself will be expanded by the end of 2018.