Busan Port Signs Sister Port Agreement with New York and New Jersey Ports

New Horizons in Global Port Cooperation

Leading the Digitalization of Port Information

Busan Port Authority (BPA, President Kang Jun-seok) signed a sister port agreement with the Port Authority of New York and New Jersey (PA NYNJ) in New York, USA, on the 11th.

Officials from Busan Port and the Port Authority of New York and New Jersey attending the agreement ceremony are taking a commemorative photo.

This agreement was made at the proposal of PA NYNJ, the largest port operating institution on the U.S. East Coast, and is regarded as a significant step in expanding Busan Port's global port network and opening a new chapter in cooperation for digitalization of information between ports.

The main contents of this agreement include information exchange between the two ports, sharing of innovations and best practices such as port digitalization and automation, and joint efforts to achieve carbon neutrality in ports.

In particular, the representatives of both ports discussed countermeasures against recent maritime supply chain disruptions caused by issues such as the Panama Canal transit delays and the Red Sea situation, and Busan Port introduced its Chain Portal System, an excellent case of port information digitalization.

Busan Port has made remarkable progress in the PCS (Port Community System) sector and was selected as a global best practice along with Rotterdam and Singapore among major ports worldwide in a report published by the World Bank.

Cooperation between the two port authorities representing Asia and North America is expected to play an important role in enhancing transparency and efficiency of information between ports, thereby strengthening the stability of the global maritime supply chain.

President Kang Jun-seok emphasized, "Digitalization and mutual sharing of port information can play a decisive role in mitigating global supply chain disruptions," adding, "This agreement will serve as a foundation for practical information technology exchange and cooperation between New York/New Jersey and Busan Ports."

Notably, PA NYNJ, a representative port authority with a long history since its establishment in 1921, was a benchmarking target in the field of port governance when Busan Port Authority was established. The fact that PA NYNJ proposed the sister port agreement first is evidence of the significant rise in the global status of Busan Port and Busan Port Authority over the past 20 years.

President Kang added, "Busan Port Authority will continue to enhance operational efficiency through continuous innovation and digitalization, contribute to the stability of the global supply chain, and thereby create tangible value." This agreement is expected to open a new chapter of cooperation and development not only between the two ports but also between the two countries.

Last year, Busan Port handled 23.15 million TEUs of container cargo, ranking 7th worldwide, while the Port of New York/New Jersey handled about 7.81 million TEUs, ranking around 20th. (The ranking for around 20th place in 2023 is expected to be finalized between April and May.)

The Port of New York/New Jersey handled the largest volume of container cargo on the U.S. East Coast and ranks third nationwide after the Port of Los Angeles (1st) and the Port of Long Beach (2nd).

There are about 50 Asia-North America routes worldwide, among which the Busan Port-North America container liner routes number 37 (as of 2023), ranking third after China’s Shenzhen Port (46) and Shanghai Port (38).