News
A total sum of ¥264.3 billion (US$1.9 billion) was earmarked for the Ministry of Land, Infrastructure, Transport and Tourism (MLIT)’s Ports and Harbours Bureau in the initial budget plan for fiscal 2024 agreed on by Prime Minister Fumio Kishida’s Cabinet last week. The total, which remained nearly unchanged from the previous fiscal year, consists of ¥261.5 billion (US$1.8 billion) for public projects and ¥2.79 billion (US$19.6 million).
More specifically, the bureau intends to spend ¥63.9 billion (US$448.8 million) reinforcing the so-called Strategic International Container Ports’ capabilities, ¥10.3 billion (US$72.3 million) upgrading domestic ferry and Ro/Ro terminals and ¥122.4 billion (US$859.3 million) ensuring safety and security for the nation.
To address terminal congestion resulting from the enlargement in size of containerships and expected overland labor shortages in the so-called 2024 issue—in which labor shortages are anticipated when overtime restrictions are imposed next year—the budget plan for the bureau included subsidies for supporting the introduction of high-spec gate systems for faster and more efficient gate work. To domestic ferry and Ro/Ro terminals—the development of high-standard unit load terminals—subsidies were earmarked for supporting the installation of chassis and container storages, small-lot transshipment facilities and reefer plugs.
