Pusan Port News

South Korean carrier  Hyundai Merchant Marine (HMM) announced that it has acquired joint ownership of PSA Hyundai Pusan New-port Terminal (PHPNT) in Busan.Yuanta HPNT, a company jointly established by the shipping liner and Singaporean shipping company PSA, signed a contract to purchase Waska, which holds a 50-percent stake in the terminal at a a ceremony attended by Young-Choon Kim (Minister of Oceans and Fisheries). With the acquisition, HMM regains operational control over the terminal."This sales contract includes that the private equity fund, Yuanta-HPNT will acquire stakes of Waska Inc. which holds 50% stakes of PHPNT," said a…

Container shipper CMA CGM has changed the rotation of its WAX service operated with 13 vessels up to 4,350 TEU on the Asia-West and South Africa trade. As from April 11, 2016 when m/v BERMUDA begins her rotation in Pusan, the Pusan port call will be transferred from WAX 3 onto WAX service. According to CMA CGM, the move will allow it to be the unique carrier on the market offering a broad range of direct services from Korea to Benin, Cameroon and Namibia in addition to the current service to Nigeria and South Africa.

Eight wharfs will be built in six ports exclusively for cruise ships by 2020 to foster the Korea's marine tourism industry. The government will also develop cruise tour programs that allow participants to experience traditional Korean culture on land, such as temple stays, tea tasting and pottery making. The Ministry of Culture and Tourism and the Ministry of Maritime Affairs and Fisheries yesterday jointly announced a set of measures to double the number of cruise ships visiting Korea and the number of passengers on them by 2011. The annual growth of cruise tourism is 8.1 percent worldwide, much greater than that of ordinary tourism market, 4.3 percent. Last year, 67 foreign cruise ships touched at Korean ports with 33,993 passengers.