Busan Port Authority (BPA) held a meeting with major domestic and foreign shipping companies in Seoul on the 18th and introduced the blockchain-based advanced transshipment monitoring system, ‘Port-i.’ This meeting was an opportunity to discuss ways to strengthen Busan Port’s competitiveness and improve operational efficiency even amidst the deepening uncertainty in the global shipping market.
Busan Port recorded a record-breaking 13.4 million TEU of transshipment cargo this year, and expressed gratitude to the shipping companies that made this achievement possible. BPA President Kang Jun-seok emphasized, “Busan Port continues to lead the increase in transshipment cargo as the final port of call for cargo from Asia to the Americas,” and “Innovation utilizing blockchain technology will provide new opportunities for shipping companies.”
PortEye is a real-time vessel/cargo monitoring and abnormality detection system developed based on blockchain technology. This system provides immediate notifications when an abnormality occurs during the transshipment connection process, enabling a quick response. Shipping companies expect that this will minimize cargo movement and maximize the efficiency of fleet operations.
In particular, PortEye is expected to contribute to maximizing cargo collection to North America by visualizing information on ships and container terminals in real time. It is expected to provide a beneficial effect for both shipping companies and Busan Port by increasing the competitiveness of Busan Port and supporting shipping companies to depart with fully loaded ships.
Busan Port is expected to handle approximately 24.3 million TEU of cargo this year, of which 1 million TEU of transshipment cargo increased, driving the overall increase. The continuous increase in transshipment cargo is evaluated to be based on digital innovation technologies such as PortEye. Last year, Busan Port was selected as a best practice for the port community system by the World Bank, and the introduction of this blockchain-based PortEye has further strengthened Busan Port’s technological capabilities.
The shipping company representatives who attended the meeting presented ways to improve Busan Port services, such as alleviating terminal congestion and expanding the opening of internal transshipment (ITT) gates, while expressing expectations that PortEye will significantly improve the cargo connection work of shipping companies. President Kang said, “Through blockchain-based PortEye, we will support shipping companies to perform transshipment work more stably and efficiently by providing them with real-time information and strengthening their ability to respond to abnormal situations,” and “We will continue to develop technology so that Busan Port can establish itself as a hub of the global shipping market.”
