5 Busan Throughput: 13,420,000teu (+1.2%)

After five consecutive years of growth, Busan is now 17% ahead of its throughput in 2004 and easily maintained its fifth place ranking in 2008.

Last year, gateway traffic posted the strongest rate of growth, with volumes rising by 2.6% to 7.64m teu. Transhipment cargo of 5.81m teu was down 0.1% on the previous year, reflecting the slowdown in Japan’s economy and the ongoing moves of ocean carriers to route a higher proportion of their northern China cargo direct.

Nonetheless, Busan Port Authority (BPA) continues to invest and modernise its facilities and is encouraging competition within the port through the concessionary process.

Last year, the Busan Newport complex handled over 1.6m teu, up from 580,000teu in 2007. This year’s volumes should benefit from the opening of two more terminals. Hanjin opened its facility in February 2009 while Hyundai Merchant Marine will take control of four berths at the end of the year.

Ultimately, Busan’s New Port terminal complex will comprise 30 berths and add an extra 8m teu of handling capacity a year.

Growing concerns over the high levels of overcapacity in the port, however, will mean that ICDs opened to alleviate congestion at the old port in the 1990s and early 2000s will be closed.

BPA is working hard to entice more clients to its distripark and is pursuing an international investment programme to secure more cargo for the port.