Busan is good

Growth rate of transshipment cargos to Japan hits new high

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With the volume of transshipment cargos moving between Busan Port and Japanese ports growing rapidly of late, the city's project to invite Japanese companies to the hinderland of Busan Port is expected to gain steam.

According to a country-specific analysis of container cargos being transshipped at Busan Port released Wednesday by the Ministry of Maritime Affairs and Fisheries (MOMAF), the volume of transshipment cargos to and from Japan last month was 62,520 TEUs (Twenty-footer Equivalent Units), showing a 25.2 percent rise year-on-year, and hitting the record high in terms of its growth rate.

The volume of cargos transshipped to and from Japan in December last year totalled 62, 756 TEUs, hitting a record high, making the yearly aggregate volume jump by 16.7 percent to be 672,613 TEUs. The strong performance was attributed to soaring costs for logistics and labor, which prevented large shipping companies from sending out mother ships to Japan.

The source of news : Busanilbo, Friday March 5, 2004, 10:15