Busan – South Korea

New Container Terminal to add 700,000 teu capacity.

Busan New Container Terminal (BNCT), one of the operators in world’s fifth-busiest container port, is on track to increase its annual handling capacity by 700,000 teu to 2.5m teu in May 2015.

The venture between Busan Port Authority, KCTC, Terminal Link, a Macquarie fund and other companies, which began operation in 2012, has been carrying outs its Phase Two expansion after securing funds and regulatory approvals to do so earlier this year.

BNCT is constructing additional yard blocks and purchasing megavessel-friendly equipment, including eight straddle carriers and three super post-panamax twin-lift quay cranes with 24-row outreach at 49 metres high.

Further expansion is on the cards. “We are preparing to continue this growth to reach our maximum capacity of over 3.5m teu over the next five to six years,” chief executive John Elliott said in a statement. BNCT grew its volume to 1.2m teu in 2013, up 139% compared to its start-up year.

Set to be the only expanding terminal in Busan until 2019, it is targeting to handle 1.5m teu this year. As a whole, container throughput in Busan reached 17.7m teu last year, up 3.8% on-year.

The Governor of Victoria, Australia recently Visited Busan Port to commemorate the 20th anniversary of sister-city affiliation with Busan and to support ITU Plenipotentiary Conference.

BPA International Cooperation Team leader, Lee Young-jae said "Governor Alex Chernov's visit established a foothold for interaction between Busan Port and the State of Victoria. BPA will put a concerted effort in promoting Busan Port to foreign visitors and building mutual exchanges with them."

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