(Crystal Chan – Journal of Commerce)
South Korea will spend $42 million to expand Busan New Port, adding 15 berths to increase the port’s annual container handling capacity by 15.8 million twenty-foot equivalent units.
The expansion plans include improvements to container terminals, feeder terminals and multipurpose terminals, a liquid natural gas bunkering facility and a logistics park. Dredging the waters around the port to 17 meters or 56 feet will allow bigger ships to call at Busan.
Total container throughput at Busan Port Authority reached 18.68 million TEUs in 2014, with Busan New Port, which opened in 2006, accounting for 64% of the total, or 11.93 million TEUs. BPA’s ports are on track to reach 20 million TEUs by the end of 2015. Click here to read more.