News
The Port of Busan handled 1.735 million TEUs of containers in July, according to statistics compiled by the Busan Port Authority (BPA). The port, which processed 1.864 million TEUs in July 2019, registered a decrease of 6.9% in performance and suffered a year-on-year contraction in container throughput for fourth months in a row, or since April. In the first seven months (January-July), meanwhile, 12.409 million TEUs were moved to and from Busan, which shrank 1.8% from 12.603 million TEUs.
In July, exports and imports accounted for a total of 783,000 TEUs, down 12.5%, scoring a year-on-year decline for five months running. Transshipment (T/S) containers waned 1.8% to 895,000 TEUs, turning downward from June, when they improved slightly.
Due to the novel coronavirus (COVID-19) pandemic, it is very hard now to project that global maritime trade will come back in a short period of time. It is estimated, as such, that container lifting at Busan will also remain on a downward trend for a while.
