Busan Port Authority set its total cargo throughput goal at 22,700,000 TEU for 2021. This is a 4.3% increase from 2020 and 1% higher than the 2021 forecast of 22,495,000 TEU, the company said in its release.
The import/export volume for the next year is forecast to be at 10,007,000 TEU (2.3%↑) based on the 2004-2020.
The transshipment volume forecast is at 12,488,000 TEU (4.2%↑) based on the expected TS volume of the top 20 carriers that are responsible for 99% of Busan Port’s total cargo volume.
Despite the global pandemic and prevailing uncertainties, the TS throughput goal was set at 12,690,000 TEU, which is 200,000 TEU higher than the forecast level. This was based on the expectations for the economic and shipping market recovery put forth by experts and BPA's marketing strategies.
BPA will continue to conduct non-contact (so called “on-tact”) marketing activities for global carriers by quantifying Busan Port’s TS competitiveness (saving of lead time, etc.).
Moreover, the Authority is planning to utilize BPA Japan to strengthen the confidence of Japanese shippers towards Busan Port.
Even as major TS ports are experiencing declining volumes in the global pandemic situations, Busan Port alone is posting positive growth in TS volume.
Expected TS volume in major transshipment ports: Singapore -2.4%, Dubai -6.6%, Hong Kong -3.4% (as of 3Q)
CEO NAM Ki-chan stated, “Despite the volume decrease in major transshipment ports caused by the global pandemic, Busan Port maintained its reputation as the 2nd busiest transshipment port in the world with the excellent service connectivity, schedule reliability, reasonable prices. In order to continue the Port’s competitiveness in 2021, policies to improve operation efficiency will be implemented ceaselessly.”