BPA unveils Busan Port incentive scheme
Busan Port Authority(BPA) announced a new incentive scheme for 2017 in order to enhance competitiveness in transshipment cargo while the environment of shipping industry is changing swiftly triggered by Hanjin Shipping bankruptcy, fierce competition with China, and reorganization of global liners’ alliance.
According to BPA, the incentive scheme in 2017 focuses on continuos increase in cargo volume and expanded aids on transport charges between piers due to T/S cargo increase from outside Busan Port. BPA also introduces a new incentive for strategic regions(Vietnam, Iran, Panama, Northeast Three Provinces in China) where cargo volume is expected to grow in order to find a breakthrough for T/S cargo volume increase in emerging markets. In addition, a‘Phase in&out’ incentive will be expanded to respond to rearrangement of alliance.
BPA secured 39 billion won for an incentive package, a 40% increase YoY and aims to achieve 10 million TEU T/S cargo in 2017.
Meanwhile, presentation on the new incentive scheme in 2017 will take place on March 3rd at BPA main auditorium.
