Monthly T/S Container Cargo handling at Busan Port Hits Record of 0.868 Mil. TEU; Cargo Volume in Oct. Overtaking That of Hong Kong Port for the Third Time Following Feb and March. Busan Port Authority(BPA, President WOO Ye-jong) stated that Busan Port handled 16.255 million containers from Jan. to Oct. this year and saw a 4.8% increase YoY to 0.744 million TEU. Notably, the transshipment cargo volume at Busan Port in Oct. broke the previous record by processing 0.868 million containers after the volume first exceeded the monthly record, 0.855 million, in Aug.

Cargo volume handled by Busan Port in Oct. has distinctive features.

First of all, total cargo volume(1.636Mil.) and T/S cargo volume(0.868 Mil.) increased by 1.5% and 9.2% respectively when compared with cargo volume in Oct. T/S cargo volume contributed greatly to the total cargo volume increase by accounting for 53.1% of the total cargo volume.

Secondly, Hong Kong Port processed 1.592 million containers, a 12.8% decrease. In this regard, Busan Port regained its rank as the world's fifth largest port after Shanghai, Singapore, Shenzhen, and Nongbo-Zhoushan by surpassing Hong Kong Port.

Lastly, accumulated T/S cargo volume since Oct. 2013 has shown constant growth- 7.213 Mil('13), 7.821 Mil.('14), 8.550 Mil.('15).

In addition, the T/S ratio of the total cargo volume has also grown- 49.2%('14), 50.5%('14), q-q-and 52.0%('15). These figures prove the validity of the promotion policy, recently released by MOF, for Busan Port being the world's 2nd largest T/S hub.

As of Oct. 2015, T/S cargo volume by nation is as follows; China(2.687649 million TEU), U.S.A(1.24697 millionTEU), Japan(1.226397 million TEU), q-and Europe(0.434649 million TEU) q-and increased 13.0%, 19.9%, 0.6%, 5.8% YoY respectively.

BPA President WOO Ye-jong said "Despite the long term global recession, we expect to achieve our goal of 19.5 million TEU this year. We will maintain our ranking as the world's fifth largest port next year if the growing trend continues q-and cargo volume at Hong Kong Port continues to decrease."