Busan Port passes 10 million TEUs for the year

Busan Port passes 10 million TEUs for the year

Busan Port Authority said today it has exceeded 10 million TEUs as of Oct. 3 and is projecting annual throughput of 13.45 million TEUs for 2007.

   The South Korean port achieved 9.23 million TEUs at the end of September, an 11 percent increase over last year due to a 20 percent rise in transshipment cargo for three consecutive months and higher domestic volume.

   The port authority said the increased use of the port is partly the result of container tax exemption laws as well as improved facilities and productivity.