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Busan Port aims to handle 13 million TEU of trans-shipment cargo by 2020 ranking it number two in the world.
The Korean Ministry of Ocean and Fisheries together with the Busan Port Authority announces a long-term vision and strategy to develop Busan Port into a global trans-shipment hub port.
In recent years trans-shipment cargo at Busan has grown by 10% (average) year-on-year while local cargo has increased by 4.2%. In 2014, trans-shipment activities overtook local cargo operations for the first time in the port’s history with trans-shipment accounting for 50.5% (9.43 million TEU) up from 31.7% in 2000.
23rd July 2015
IUMI 2015 asks if current business drivers are creating a new standard for marine insurance
Client news
The marine insurance sector is changing and new business drivers are fast impacting on the way the market operates. Key influencers will be identified and debated at IUMI’s most important event of the year, the 2015 Annual Conference in Berlin, 13-16 September, under the theme: “Technical, Financial & Human Factors – is there a new normal?”
Increasing demand from the shipping industry for Total’s marine lubricants in the Asia-Pacific region has been a significant factor in the company’s decision to open its largest lubricant blending plant in Singapore. Last week (3 July 2015) saw the opening of Total’s new state-of-the-art facility in the Singapore Lube Park in Tuas South with an annual production capacity of 310,000 metric tons.