South Korea detained a domestic vessel for allegedly supplying petroleum products to North Korea, thus violating the sanctions. The tanker was detained at the port of Busan, for transfers that reportedly took place in September 2017. Prosecutors are now examining the case, in order to determine whether or not to press charges against the vessel’s operator and master.
Port of Busan
Busan Port Authority highlighted that its regular container cargo services increased five times to 268 during February 2018. The figure was based on the database q-from the global analysing institute, Alphaliner. In 2015 the number of its weekly cargo services was 257, in 2016 was 268, whereas it declined in 2017 in 253 because of the bankruptcy in Hanjin Shipping.
The container ship Safmarine Nokwamda collided with the container ship Tianjin, while berthing at Busan Container Terminal, on March 2. Both ships sustained damages, while several container fell from Tianjin. Both ships have now departed Busan and are continuing their voyages. Safmarine Nokwanda is going to China, with Tianjin heading to the Americas.
The Russian freighter ‘Sevastopol’, is stranded in the South Korean port of Busan for over a month. The ships has been blacklisted by the US, as its owner has allegedly violated the sanctions. According to reports, local oil companies are reluctant to supply the ship with fuel.
The Port Authority of Busan issued with the the Port of Rotterdam Authority a Letter of Intent for the allocation of a 5 to 10 hectare site on the Maasvlakte Distribution Park West. It is the second LOI signed in a short time for this distribution site and defines it as a premium logistics location for property developers, investors, shippers and logistics service providers.
While shipments of automobiles showed the highest growth at 14.4%, followed by soft coal with 11.6% and machinery up 8.3%, the cargo traffic of sand and steel dropped by 35.9% and 12.8%, respectively, according to data provided by the country’s Ministry of Oceans and Fisheries.
South Korean Ministry of Oceans and Fisheries revealed plans to develop 30 million square meters of seaport hinterland by 2030, in line with a broader national development plan to boost the country’s industrial and logistics infrastructure.
Busan, the largest transshipment port in Northeast Asia, must utilize technology and adopt innovative ship financing business as well as increasing exchanges with neighboring cities in order to be further developed, industry leaders and experts emphasize.
HMM announced that its cargo processing at Busan Port, the largest sea gateway in Korea, has hit a new record, as the company handled 167,018 TEUs of cargo through the port in July, increased by 93 percent year-over-year.
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