Korea's Busan port loses 2 key customers
Departure of MSC, China Shipping a blow to Busan's effort to become transhipment hub
(SINGAPORE) Congestion and infrastructure deficiencies have lost South Korea's Busan port two key transhipment customers in moves that will cost 40 billion won (S$59.2 million) in revenues this year alone.
In a blow to Busan's transhipment hub growth efforts, a report by the Korea International Trade Association (KITA) said that the world's third busiest container port had lost Mediterranean Shipping Company's (MSC) Asian transhipment cargo to China's booming Ningbo port. And China Shipping has bypassed Busan for its transhipment boxes since mid-May.
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