The Busan Port Authority concluded a memorandum of understanding with Qingdao Port on May 13 for the development of cruise routes.
The two parties agreed to cooperate on the following areas: developing and promoting international cruise routes between Busan and Qingdao; Sharing of knowhows on shipping and passenger business facilities and operation; benchmarking and exchanging of technologies; and promoting exchanges among people.
Based on the MOU, the exchanges and cooperation between the two ports as well as cruise businesses are expected to expand.
Under City of Qingdao, Qingdao Port International Company manages and operates Qingdao Port, which ranks 8 in container throughput in the world. Accordingly, Meng Fanli, Mayor of Qingdao City, and Jiao Guangjun, President of Qingdao Port International Company, came to the BPA head office to sign the MOU.
*2018 Busan Port throughput: 21,660,000 TEU (#6 in the world)
**2019 Qingdao Port throughput: 19,300,000 TEU (#8 in the world)