Busan’s 20 million TEU threatens Hong Kong’s global rank

Busan handles 75% of South Korea's annual container traffic. Throughput broke 20 mil TEU mark, a triumph for Busan which is the world’s second-busiest transshipment hub behind Singapore, threatening the No. 5 ranking of HKG depending on traffic at HKG in December. HKG’s throughput rose 6.4% year over year through November to 18.9 mil TEU.

To help protect Busan’s throughput without Hanjin, the Busan Port Authority (BPA) offered discounts to Hanjin’s alliance partners, a bid that appears to have paid off, as Busan’s throughput was essentially flat, slipping just 0.1% to 19.45 mil TEU in 2016. That compares with the 2.3% decline at HKG to 20.07 mil TEU.

HKG fell from world’s top port in 2005 to SIN. It fell to No. 3 in 2007 behind SHA, and No. 4 in 2013 behind SZX, before falling to fifth place in 2015 behind NGB.

(JOC)