SOUTH KOREA PLANS TO TRANSFORM BUSAN IN THE SECOND PORT OF
WORLD'S LARGEST LOAD TRANSHIPMENT BY 2020
South Korea plans to transform Busan into the second port of
largest cargo transshipment in the world by 2020, through
the construction of infrastructure and the rationalization of
operations, as announced by the Government.
According to what the Korean news agency Yonhap publishes, the
measure could allow the country's largest port to overtake Hong Kong,
located in the second international place, after Singapore, according to
reported the Ministry of Oceans and Fisheries.
Transshipments refer to the handling of cargo and containers in
an intermediate destination between the point of origin and the final destination in
another place.
According to the Korean media, last year, the volume of
transshipments at Busan port stood at 9.43 million TEU
-containers units equivalent to twenty feet-, whose number is
would rise to 13 million by 2020. The measure would have a
economic impact of about 1.5 trillion won (1,315 million
dollars), as announced by the ministry.
Currently, the port of Busan, in the south-eastern tip of Korea
South, is in charge of the shipments coming and going to China,
Japan, Russia, Australia, and North and South America.
The ministry said that, to achieve the objective, measures will be taken
to gradually shift all container operations, which
constitute the majority of the transshipment cargo, from the Port
Busan North to its New Port to optimize its operations.
The measure will improve efficiency and achieve an economy of
stopover in the Puerto Nuevo sector, which will strengthen its competitiveness
general against his rivals.
According to the ministry, in the first half of 2016 a
international terminal operator (GTO, according to its initials in
English), made up of five companies, including the Port Authority
Busan, in order to better manage various operations.
The establishment of a GTO will allow a local operator to enter
in the international terminal business area, dominated by
foreign companies such as Hutchison Port Holdings and PSA International.
A GTO uses its cargo handling capabilities at its national port
as an impetus to expand its cargo handling operations in the
Exterior. Hutchison operates from Hong Kong, while PSA has been set
in Singapore.
The plan also envisages turning the Busan North Port into a
industrial area that can build or assemble industrial plants
marine.
Under that plan, related laws will be changed to make
possible expansion of the port into non-logistics industries, which
can create new growth opportunities. The current laws of
country prohibit ports from being used for another service that does not
be the handling of cargo and people.
SOURCE: ARGENTINE DISPATCHERS