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Busan port moves higher box throughput in October

Busan port moves higher box throughput in October
South Korea’s Busan port has recorded an increase in container throughput in October this year compared to the year-ago period, according to figures released by Busan Port Authority (BPA) on Sunday.

In October, the country’s main seaport Busan moved 1.64m teu of containers, representing an increase of 1.5% compared to the previous corresponding period, BPA figures showed.

The port authority pointed out that transhipment volumes were registered at 868,000 teu, surpassing this year’s previous highest monthly record of 855,000 teu seen in August.

From January to October this year, Busan port handled a total throughput of 16.26m teu, an increase of 4.8% year-on-year.

BPA president Woo Ye-jong said: “Despite the long term global recession, we expect to achieve our goal of 19.5m teu this year. We will maintain our ranking as the world's fifth largest port next year if the growing trend continues and cargo volume at Hong Kong port continues to decrease.”

Hong Kong looks set to post a double-digit drop in throughput for 2015 with volumes already falling 8.7% to 17.05m teu for the first 10 months.