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China effect equals sluggish growth for Busan

China effect equals sluggish growth for Busan

Busan: New berths aplenty failed to accelerate throughput at Korea's largest box port, Busan last year. Busan was simply unable to keep up with the rapacious growth of Chinese terminals such as Shanghai, Dalian and Tianjin and posted its lowest growth for 16 years - just 1.6%, limping from 11.8m to 12m teu. Transhipment accounted for 43% of volume last year at Busan.

In January last year the president of the nation was on hand for the opening of Pusan New Port which will eventually spawn 30 berths as much of the old city centre terminals are redeveloped.

Acknowledging that it will struggle to compete with China, the Busan Port Authority has changed its strategy, and late last year invested in its first overseas port in Vietnam.  [16/01/07]

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