Busan port expects to handle 15m TEUs this year
South Korea's Busan container port, the world's fifth busiest, expects to handle around 15 percent more cargo this year than last due to strong imports from China and regional transhipments, Cargonewsasia reports citing a port executive.
Increased activity at South Korea's main port, however, was likely to soften next year because of slower global economic growth, said Boowon Kang, head of operations at Busan Port Authority.
"We are seeing double-digit growth easily. Data from January to April shows that transhipments and imports are increasing a lot," he told Reuters on the sidelines of an industry conference.
"This means the economy is recovering from the global recession as they need materials and parts."
The Busan port was expected to handle more than 15 million TEUs this year, up from 13 million last year and 12 million in 2009.
Kang declined to provide a forecast for 2012, but said growth would not be as strong.
Increased activity at South Korea's main port, however, was likely to soften next year because of slower global economic growth, said Boowon Kang, head of operations at Busan Port Authority.
"We are seeing double-digit growth easily. Data from January to April shows that transhipments and imports are increasing a lot," he told Reuters on the sidelines of an industry conference.
"This means the economy is recovering from the global recession as they need materials and parts."
The Busan port was expected to handle more than 15 million TEUs this year, up from 13 million last year and 12 million in 2009.
Kang declined to provide a forecast for 2012, but said growth would not be as strong.