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            november 20, 2019

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Busan New Port starts dredging work costing US$20.4m to attract mega box ships

  11.10.2019    

Dredging has commenced for phases two to six of South Korea's Busan New Port development to accommodate mega containerships. The dredging will cost KRW24 billion (US$20.4 million).
The water depth is currently four to seven metres and phases two to five and two to six will involve dredging over a 7.91 million-square-metre area that will deepen the waters to 17-metres.
Slated for completion in December 2025, the development works will add 1.3 million TEU to the annual handling capacity of Busan New Port's west container pier by building two additional berths, reported IHS Media (Dredging and Port Construction) Oakland.
According to the Ministry of Oceans and Fisheries, phases two to five will add two million TEU and three berths to the pier and will be ready in the first half of 2022. The phase two works are being conducted by a local consortium comprising Daelim Industrial, SK E&C and Daezer Construction.
The design and construction of phase two to six of Busan New Port is being performed by a local consortium led by Halla Corporation. Korea Port Engineering Corporation, Hangdo Engineering, RGIO E&C, and DMCM make up the other consortium members.
The Ministry's Director of Ports Oh Woon-yeol said: "We aim to complete the dredging on time in order to offer safe conditions for large vessels navigating through the port. By doing so, Busan New Port's international competitiveness will be boosted, and we can look forward to the port consolidating its status as a logistics hub of Northeast Asia."
Upon completion, the berths being built in phases two to five and two to six will be operated through a joint venture between Korea Shipping Partnership and Busan Port Authority. The Korea Shipping Partnership is a quasi-alliance involving local feeder operators, such as Hyundai Merchant Marine (HMM), SM Line Corporation, Taiyoung Shipping, Korea Marine Transport, and Dongjin Shipping.



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