Hyundai Merchant Marine (HMM) announced that its cargo processing at Busan Port for January to July 2018, has hit a new record.
Processed cargo during the first seven months of this year reached 1,157,980 TEU, an increase of 14.3 percent year-over-year.
For the volume of exports and imports has recorded 608,872 TEU, a soaring 14.1 percent year-over-year.
Also, the transit cargo volume increased from 473,341 TEU to 541,926 TEU, up 14.5% year-over-year.
HMM attributed the performance to its service & volume reliability, and the launch of Asia Europe Express (AEX) service last April.
An HMM official said, “Since Hanjin shipping’s collapse, HMM cargo processing at Busan port has hit a new record, exceeding 170,000 TEU/month for May to July consecutive months this year attributed to HMM’s service and volume reliability” And that “For this year, we expect to handle more volume than 2.0 million TEU at Busan port.”
Meanwhile, HMM’s total handling volume at Busan port in 2017 reached 1,774,508 TEU which was much higher than its original target, 1.5M TEU.