Busan looking at revising transshipment incentives

Busan looking at revising transshipment incentives The Port of Busan said it is revising its volume incentive system for transshipment cargo, the port said Thursday.
   The Busan Port Authority held a meeting with the Busan Regional Maritime Affairs and Port Office, ocean carrier and port operators at the end of May to search for viable changes to the system to induce more transshipment volume.
   Ongoing research will be conducted by Port and Logistics Center of Tongmyong University and will analyze the effectiveness of current incentive system and put forward measures to improve the system.
   It will also study current incentives offered by other major ports and look at successful volume increase cases, conducting liner-by-liner interviews to find out liner-customized support measures.
   BPA has offered incentives to shipping lines in the last two years to boost transshipment volume as it opened the Busan Newport. Busan is intent on becoming a logistics hub for Northeast Asia and handled 5.8 million TEUs of transshipment cargo in 2007, 44 percent of its total 13.3 million TEUs and 11 percent higher than transshipment volume in 2006.